Carlyle Credit Income Fund (NYSE:CCIF) Sees Large Drop in Short Interest

Carlyle Credit Income Fund (NYSE:CCIF) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 31,279 shares, a decline of 35.1% from the September 30th total of 48,201 shares. Based on an average daily volume of 157,541 shares, the days-to-cover ratio is currently 0.2 days.

Carlyle Credit Income Fund Stock Performance

Shares of NYSE:CCIF traded up $0.02 during trading on Tuesday, reaching $1.91. 109,998 shares of the company were exchanged, compared to its average volume of 141,084. The business’s fifty day simple moving average is $2.34 and its 200-day simple moving average is $3.05. Carlyle Credit Income Fund has a 12-month low of $1.75 and a 12-month high of $5.33.

Carlyle Credit Income Fund (NYSE:CCIF) last announced its quarterly earnings results on Wednesday, August 19th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The company had revenue of $4.31 million during the quarter, compared to analysts’ expectations of $5.39 million.

Carlyle Credit Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Tuesday, November 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.72 dividend on an annualized basis and a yield of 37.7%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC lifted its position in shares of Carlyle Credit Income Fund by 10.9% in the 2nd quarter. Belpointe Asset Management LLC now owns 61,053 shares of the company’s stock worth $170,000 after purchasing an additional 6,000 shares during the period. Advisory Solutions Group LLC bought a new position in Carlyle Credit Income Fund in the second quarter worth approximately $113,000. Tactive Advisors LLC bought a new position in Carlyle Credit Income Fund in the third quarter worth approximately $28,000. Finally, Two Sigma Securities LLC purchased a new stake in Carlyle Credit Income Fund during the second quarter worth $29,000.

Wall Street Analysts Forecast Growth

CCIF has been the subject of a number of analyst reports. Credit Suisse Group set a $3.50 price target on Carlyle Credit Income Fund in a research report on Friday, August 21st. Zacks Research cut shares of Carlyle Credit Income Fund from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th.

About Carlyle Credit Income Fund

Carlyle Credit Income Fund is a close ended fixed income mutual fund launched and managed by Vertical Capital Asset Management, LLC. The fund is co – managed by Behringer Advisors, LLC. The Fund invests mainly in fixed-income securities. The fund invests in stocks of companies operating across diversified sectors. It seeks to benchmark the performance of its portfolio against the Barclays Capital U.S. Mortgage Backed Securities Index. Carlyle Credit Income Fund was formed on December 30, 2011 and is domiciled in the United States.