Credit Suisse AM Inc Fund Inc. (NYSEAMERICAN:CIK) Major Shareholder Saba Capital Management, L.P. Acquires 42,407 Shares of Stock

Credit Suisse AM Inc Fund Inc. (NYSEAMERICAN:CIK) major shareholder Saba Capital Management, L.P. acquired 42,407 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were bought at an average price of $2.33 per share, for a total transaction of $98,808.31. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of CIK traded up $0.08 during mid-day trading on Thursday, hitting $2.42. 11,715 shares of the company traded hands, compared to its average volume of 255,295. Credit Suisse AM Inc Fund Inc. has a 1-year low of $1.97 and a 1-year high of $3.45.

The business also recently disclosed a monthly dividend, which was paid on Monday, March 23rd. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.0225 per share. The ex-dividend date was Monday, March 16th. This represents a $0.27 annualized dividend and a dividend yield of 11.16%.

Several institutional investors and hedge funds have recently bought and sold shares of CIK. Cascadia Advisory Services LLC purchased a new position in Credit Suisse AM Inc Fund in the 4th quarter valued at $32,000. Millennium Management LLC acquired a new position in shares of Credit Suisse AM Inc Fund in the third quarter valued at approximately $39,000. First Allied Advisory Services Inc. increased its holdings in shares of Credit Suisse AM Inc Fund by 45.5% in the third quarter. First Allied Advisory Services Inc. now owns 16,000 shares of the company’s stock valued at $50,000 after purchasing an additional 5,000 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Credit Suisse AM Inc Fund by 33.3% in the fourth quarter. Lindbrook Capital LLC now owns 20,000 shares of the company’s stock valued at $64,000 after purchasing an additional 5,000 shares during the period. Finally, Integrated Capital Management Inc. increased its holdings in shares of Credit Suisse AM Inc Fund by 27.9% in the fourth quarter. Integrated Capital Management Inc. now owns 25,235 shares of the company’s stock valued at $81,000 after purchasing an additional 5,504 shares during the period.

About Credit Suisse AM Inc Fund

Credit Suisse Asset Management Income Fund, Inc is a closed-ended fixed income mutual fund launched and managed by Credit Suisse Asset Management, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in high yield corporate debt such as bonds and debentures that are rated Baa or lower by Moody's or BBB or lower by S&P.

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