LPL Financial LLC recently announced the acquisition of new stake in Credit Suisse Asset Management Income Fund Inc. (NYSE:CIK). The institutional investor has increased its shareholding in the Financial company by 4.64% to 1.05 million shares with purchase of 46626.0 shares. This fresh investment now brings its stake to 2.01% valued currently at $2.85 million. In addition, Saba Capital Management LP raised its holdings by 0.78 million to 0.78 million shares. And Sit Investment Associates, Inc. has lifted its position by 15.04% or 98475.0 shares – to 0.75 million shares.
With over 0.46 million Credit Suisse Asset Management Income Fund Inc. (CIK) shares trading Tuesday and a closing price of $2.78 on the day, the dollar volume was approximately $1.28 million. The shares have shown a positive weekly performance of 2.21% and its price on 07/28/20 gained nearly 1.46%. Currently, there are 52.30M common shares owned by the public.
The top 3 mutual fund holders in Credit Suisse Asset Management Income Fund Inc. are Invesco CEF Income Composite ETF, Advisors Preferred Trust – OnTrac, and Guggenheim Multi Hedge Strategies. Invesco CEF Income Composite ETF owns 0.76 million shares of the company’s stock, all valued at over $2.05 million. The company bought an additional 3156.0 shares recently to bring their total holdings to about 1.45% of the shares outstanding. Guggenheim Multi Hedge Strategies sold 454.0 shares to bring its total holdings to over 3703.0 shares at a value of $10035.0. Guggenheim Multi Hedge Strategies now owns shares totaling to 0.01% of the shares outstanding.
However, the script later closed the day at $2.78, up 1.46%. The company’s stock has a 5-day price change of 2.21% and 14.40% over the past three months. CIK shares are trading -13.66% year to date (YTD), with the 12-month market performance down to -10.90% lower. It has a 12-month low price of $1.97 and touched a high of $3.45 over the same period. Currently, 0.46 million shares have been traded, compared to an average intraday trading volume of 631.73K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.36%, 3.52%, and -4.46% respectively.
Institutional ownership of Credit Suisse Asset Management Income Fund Inc. (NYSE: CIK) shares accounts for 26.11% of the company’s 52.30M shares outstanding. Mutual fund holders own 11.11%, while other institutional holders and individual stakeholders account for 11.17% and 1.53% respectively.
It has a market capitalization of $145.41M. The stock’s trailing 12-month PE ratio is 5.15, while the earnings-per-share (ttm) stands at $0.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.50% over the week and 1.51% over the month.
Looking at the support for the CIK, a number of firms have released research notes about the stock. Stifel Nicolaus stated their Sell rating for the stock in a research note on March 01, 2007, with the firm’s price target at.