Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC – Get Rating) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 120,600 shares, an increase of 101.3% from the June 15th total of 59,900 shares. Based on an average daily volume of 93,700 shares, the short-interest ratio is presently 1.3 days.
Hedge Funds Weigh In On Allspring Multi-Sector Income Fund
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its position in Allspring Multi-Sector Income Fund by 3.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 32,201 shares of the company’s stock valued at $335,000 after acquiring an additional 1,049 shares in the last quarter. Capital Wealth Alliance LLC lifted its position in Allspring Multi-Sector Income Fund by 11.2% in the 4th quarter. Capital Wealth Alliance LLC now owns 13,816 shares of the company’s stock valued at $182,000 after acquiring an additional 1,386 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Allspring Multi-Sector Income Fund by 1.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 80,942 shares of the company’s stock valued at $1,070,000 after acquiring an additional 1,505 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Allspring Multi-Sector Income Fund by 4.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 38,429 shares of the company’s stock valued at $368,000 after buying an additional 1,624 shares during the last quarter. Finally, Fiera Capital Corp raised its stake in Allspring Multi-Sector Income Fund by 2.7% during the 4th quarter. Fiera Capital Corp now owns 61,926 shares of the company’s stock valued at $819,000 after buying an additional 1,632 shares during the last quarter.
Allspring Multi-Sector Income Fund Price Performance
Shares of ERC opened at $9.36 on Monday. Allspring Multi-Sector Income Fund has a 52 week low of $8.99 and a 52 week high of $14.07.
Allspring Multi-Sector Income Fund Cuts Dividend
The business also recently declared a monthly dividend, which will be paid on Monday, August 1st. Stockholders of record on Tuesday, July 12th will be given a $0.091 dividend. The ex-dividend date of this dividend is Monday, July 11th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 11.66%.
Allspring Multi-Sector Income Fund Company Profile
Allspring Multi-Sector Income Fund is a closed-ended fixed income mutual fund launched and managed by Wells Fargo Funds Management, LLC. The fund is co-managed by First International Advisors, Inc and Wells Capital Management Incorporated. It invests in fixed income markets across the globe. The fund primarily invests in a mix of non-investment-grade corporate debt securities, including bank loan securities, foreign and emerging markets debt securities, adjustable and fixed-rate mortgages, and investment-grade corporate bonds.
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