Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $9.35 and traded as low as $9.34. Allspring Multi-Sector Income Fund shares last traded at $9.38, with a volume of 95,524 shares traded.

Allspring Multi-Sector Income Fund Stock Performance

The business has a 50 day moving average price of $9.35 and a 200 day moving average price of $9.43.

Allspring Multi-Sector Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a $0.0723 dividend. The ex-dividend date is Monday, January 12th. This is a positive change from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. This represents a c) dividend on an annualized basis and a yield of 9.2%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ERC. International Assets Investment Management LLC lifted its stake in shares of Allspring Multi-Sector Income Fund by 6.2% during the 2nd quarter. International Assets Investment Management LLC now owns 34,402 shares of the company’s stock worth $325,000 after purchasing an additional 2,000 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in Allspring Multi-Sector Income Fund by 6.5% in the second quarter. Capital Investment Advisors LLC now owns 44,717 shares of the company’s stock worth $423,000 after purchasing an additional 2,740 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Allspring Multi-Sector Income Fund by 12.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 24,510 shares of the company’s stock valued at $238,000 after buying an additional 2,793 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Allspring Multi-Sector Income Fund by 8.0% in the 2nd quarter. Osaic Holdings Inc. now owns 75,808 shares of the company’s stock valued at $716,000 after buying an additional 5,604 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Allspring Multi-Sector Income Fund by 23.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,028 shares of the company’s stock valued at $293,000 after buying an additional 5,877 shares in the last quarter.

Allspring Multi-Sector Income Fund Company Profile

Allspring Multi-Sector Income Fund (NYSE American: ERC) is a closed-end management investment company that seeks to provide high current income and total return by investing in a diversified portfolio of fixed-income securities. The fund trades on the NYSE American exchange and employs an active, research-driven approach to credit selection across multiple sectors of the debt market.

The fund’s investment strategy spans a broad array of fixed-income instruments, including corporate bonds, bank loans, securitized products such as mortgage- and asset-backed securities, and sovereign debt.