Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $9.37 and traded as low as $9.36. Allspring Multi-Sector Income Fund shares last traded at $9.42, with a volume of 113,203 shares.

Allspring Multi-Sector Income Fund Trading Down 0.2%

The business’s fifty day simple moving average is $9.37 and its 200-day simple moving average is $9.43.

Allspring Multi-Sector Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.0724 per share. This is a boost from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 9.2%.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

A number of hedge funds have recently made changes to their positions in ERC. World Investment Advisors grew its position in Allspring Multi-Sector Income Fund by 26.3% in the fourth quarter. World Investment Advisors now owns 17,685 shares of the company’s stock worth $164,000 after acquiring an additional 3,682 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 4th quarter valued at approximately $241,000. Rareview Capital LLC lifted its stake in shares of Allspring Multi-Sector Income Fund by 9.5% in the 4th quarter. Rareview Capital LLC now owns 151,876 shares of the company’s stock valued at $1,435,000 after purchasing an additional 13,225 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Allspring Multi-Sector Income Fund by 31.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 253,620 shares of the company’s stock worth $2,430,000 after purchasing an additional 60,193 shares during the period. Finally, Raymond James Financial Inc. increased its position in shares of Allspring Multi-Sector Income Fund by 1.5% during the 3rd quarter. Raymond James Financial Inc. now owns 815,458 shares of the company’s stock valued at $7,812,000 after purchasing an additional 11,916 shares during 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.