Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) Sees Large Decrease in Short Interest

by · The Cerbat Gem

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK – Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 23,950 shares, a decline of 77.0% from the August 15th total of 104,305 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 350,090 shares, the short-interest ratio is presently 0.1 days.

Credit Suisse Asset Management Income Fund Price Performance

NYSEAMERICAN:CIK remained flat at $2.41 during trading hours on Friday. The company had a trading volume of 1,011,822 shares, compared to its average volume of 338,090. The firm has a fifty day moving average of $2.44 and a 200 day moving average of $2.51. Credit Suisse Asset Management Income Fund has a 1-year low of $2.40 and a 1-year high of $3.04.

Credit Suisse Asset Management Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.02 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date is Wednesday, September 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Credit Suisse Asset Management Income Fund by 1,886.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,503,121 shares of the company’s stock valued at $4,254,000 after purchasing an additional 1,427,460 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Credit Suisse Asset Management Income Fund during the second quarter worth about $2,884,000. Shaker Financial Services LLC grew its stake in Credit Suisse Asset Management Income Fund by 204.3% during 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. Invesco Ltd. increased its holdings in Credit Suisse Asset Management Income Fund by 1.4% in the 2nd quarter. Invesco Ltd. now owns 531,135 shares of the company’s stock valued at $1,572,000 after buying an additional 7,463 shares during the period. Finally, Bank of America Corp DE increased its holdings in Credit Suisse Asset Management Income Fund by 15.1% in the 2nd quarter. Bank of America Corp DE now owns 443,692 shares of the company’s stock valued at $1,313,000 after buying an additional 58,250 shares during the period. Institutional investors own 29.49% of the company’s stock.

About Credit Suisse Asset Management Income Fund

(Get Free Report)

Credit Suisse Asset Management Income Fund Inc (NYSE American: CIK) is a closed-end management investment company managed by Credit Suisse Asset Management, one of the world’s leading asset managers. The fund’s primary objective is to provide shareholders with a high level of current income, with a secondary objective of capital appreciation. It achieves this by investing in a diversified portfolio of income-producing securities across fixed-income and equity markets.

The fund typically allocates assets to a mix of investment-grade and below-investment-grade corporate bonds, bank loans, mortgage- and asset-backed securities, convertible securities and dividend-paying equities.

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