Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Stock Price Breaks Below 50 Day Moving Average – Time to Sell?

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD)’s share price passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $6.07 and traded as low as $5.94. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund shares last traded at $5.94, with a volume of 461,324 shares trading hands.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Stock Performance

The business’s 50 day simple moving average is $6.07 and its two-hundred day simple moving average is $6.43.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 11th will be given a $0.0523 dividend. This is a drop from Wells Fargo Advantage Funds – Allspring Income Opportunities Fund’s previous monthly dividend of $0.0527. This represents a $0.63 annualized dividend and a yield of 10.6%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

A number of hedge funds have recently modified their holdings of the business. Readystate Asset Management LP acquired a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the second quarter worth approximately $625,000. HighTower Advisors LLC bought a new stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the third quarter valued at approximately $158,000. Commonwealth Equity Services LLC boosted its holdings in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 9.0% in the third quarter. Commonwealth Equity Services LLC now owns 91,995 shares of the closed-end fund’s stock valued at $553,000 after acquiring an additional 7,593 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 3rd quarter valued at approximately $700,000. Finally, Calamos Advisors LLC increased its position in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 65.5% during the 3rd quarter. Calamos Advisors LLC now owns 85,431 shares of the closed-end fund’s stock valued at $513,000 after purchasing an additional 33,814 shares during the period.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Company Profile

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund is a closed-end investment fund traded on the NYSE American under the symbol EAD. The fund seeks to provide investors with a high level of current income and, as a secondary objective, capital appreciation. The fund invests primarily in a diversified portfolio of income-producing securities. These may include high-yield corporate bonds, bank loans, and other fixed-income instruments issued by companies and governments. Its portfolio may include below-investment-grade securities, which can offer higher income but generally involve greater credit and market risk.