Wedbush Securities Inc. Increases Stake in Credit Suisse AM Inc Fund Inc. (NYSE:CIK)
Wedbush Securities Inc. raised its stake in Credit Suisse AM Inc Fund Inc. (NYSE:CIK) by 10.8% during the second quarter, Holdings Channel reports. The institutional investor owned 385,147 shares of the company’s stock after buying an additional 37,695 shares during the period. Wedbush Securities Inc.’s holdings in Credit Suisse AM Inc Fund were worth $1,298,000 at the end of the most recent quarter.
Separately, Sigma Planning Corp increased its position in Credit Suisse AM Inc Fund by 256.2% in the second quarter. Sigma Planning Corp now owns 246,198 shares of the company’s stock valued at $830,000 after buying an additional 177,080 shares in the last quarter.
Credit Suisse AM Inc Fund Inc. (NYSE CIK) opened at 3.34 on Friday. The stock has a 50 day moving average of $3.38 and a 200 day moving average of $3.33. Credit Suisse AM Inc Fund Inc. has a 1-year low of $2.91 and a 1-year high of $3.50.
The company also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.022 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.26 annualized dividend and a dividend yield of 7.90%.
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In other news, major shareholder Saba Capital Management, L.P. sold 35,614 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $3.43, for a total transaction of $122,156.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 458,531 shares of company stock worth $1,560,316 over the last ninety days.
Credit Suisse AM Inc Fund Company Profile
Credit Suisse Asset Management Income Fund, Inc is a diversified, closed-end management investment fund. The Fund’s investment objective is to provide current income consistent with the preservation of capital. The Fund invests in a range of sectors, which include advertising, auto parts and equipment, brokerage, building and construction, building materials, cable and satellite television, chemicals, consumer/commercial/lease financing, electronics, energy-exploration and production, food-wholesale, forestry and paper, gas distribution, health facilities, insurance brokerage, media-diversified, media content, medical products, metals and mining, oil field equipment and services, packaging, personal and household products, pharmaceuticals, software-services, real estate investment trusts, restaurants, specialty retail, and recreation and travel.
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