Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK)’s stock price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $2.35 and traded as high as $2.37. Credit Suisse Asset Management Income Fund shares last traded at $2.37, with a volume of 494,673 shares trading hands.

Credit Suisse Asset Management Income Fund Stock Performance

The firm’s 50 day moving average is $2.35 and its 200 day moving average is $2.52.

Credit Suisse Asset Management Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be issued a $0.02 dividend. This represents a $0.24 annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend is Monday, November 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CIK. Landscape Capital Management L.L.C. bought a new position in shares of Credit Suisse Asset Management Income Fund in the second quarter worth $2,884,000. Shaker Financial Services LLC raised its position in shares of Credit Suisse Asset Management Income Fund by 204.3% in the second quarter. Shaker Financial Services LLC now owns 867,755 shares of the company’s stock worth $2,152,000 after buying an additional 582,569 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Credit Suisse Asset Management Income Fund in the second quarter worth $535,000. Dynamic Advisor Solutions LLC raised its position in shares of Credit Suisse Asset Management Income Fund by 9.0% in the second quarter. Dynamic Advisor Solutions LLC now owns 73,477 shares of the company’s stock worth $182,000 after buying an additional 6,092 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new stake in shares of Credit Suisse Asset Management Income Fund in the third quarter worth $167,000. 29.49% of the stock is currently owned by hedge funds and other institutional investors.

Credit Suisse Asset Management Income Fund Company Profile

Credit Suisse Asset Management Income Fund (NYSE American: CIK) is a closed-end investment fund designed to provide investors with a high level of current income, with capital appreciation as a secondary objective. Unlike an operating company, the fund does not sell products or services; it invests shareholders’ capital in a diversified portfolio of income-producing securities.

The fund generally focuses on fixed-income investments, which may include corporate bonds, government and government-related obligations, mortgage-backed securities and other debt instruments.