Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Sees Significant Growth in Short Interest

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 16,000 shares, an increase of 15.1% from the March 31st total of 13,900 shares. Based on an average trading volume of 70,800 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Allspring Multi-Sector Income Fund

Hedge funds have recently modified their holdings of the stock. Custom Index Systems LLC purchased a new position in Allspring Multi-Sector Income Fund during the fourth quarter worth approximately $208,000. Raymond James Trust N.A. purchased a new position in Allspring Multi-Sector Income Fund during the fourth quarter worth approximately $130,000. Raymond James Financial Services Advisors Inc. boosted its position in Allspring Multi-Sector Income Fund by 4.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 219,144 shares of the company’s stock worth $2,045,000 after purchasing an additional 10,167 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Allspring Multi-Sector Income Fund by 8.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 116,874 shares of the company’s stock worth $1,090,000 after purchasing an additional 8,947 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Allspring Multi-Sector Income Fund by 18.5% during the third quarter. Janney Montgomery Scott LLC now owns 12,817 shares of the company’s stock worth $117,000 after purchasing an additional 2,000 shares in the last quarter.

Allspring Multi-Sector Income Fund Stock Down 0.3 %

Shares of ERC opened at $8.95 on Wednesday. Allspring Multi-Sector Income Fund has a one year low of $8.51 and a one year high of $9.74.

Allspring Multi-Sector Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be paid a $0.0657 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 8.80%.

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.