Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Shares Cross Below 50 Day Moving Average – Here’s Why

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.82 and traded as low as $6.66. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund shares last traded at $6.70, with a volume of 235,863 shares changing hands.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Price Performance

The firm has a 50 day moving average price of $6.82 and a 200 day moving average price of $6.88.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be given a $0.0535 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date is Thursday, March 12th.

Institutional Trading of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

Several institutional investors and hedge funds have recently modified their holdings of EAD. Envestnet Asset Management Inc. boosted its holdings in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 2.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 300,980 shares of the closed-end fund’s stock worth $2,125,000 after buying an additional 8,548 shares during the period. Allworth Financial LP purchased a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the second quarter valued at about $116,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 151.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 37,312 shares of the closed-end fund’s stock worth $263,000 after acquiring an additional 22,465 shares during the period. Invesco Ltd. boosted its stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 10.8% in the second quarter. Invesco Ltd. now owns 897,364 shares of the closed-end fund’s stock worth $6,335,000 after acquiring an additional 87,577 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 6.1% during the second quarter. Guggenheim Capital LLC now owns 996,321 shares of the closed-end fund’s stock worth $7,034,000 after purchasing an additional 57,362 shares in the last quarter.

About Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

The Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSE American: EAD) is a diversified, closed-end management investment company that seeks current income by investing primarily in a broad array of income-producing debt instruments. Originally launched as part of the Wells Fargo Advantage Funds family, the fund is now managed by Allspring Global Investments. It trades on the NYSE American exchange under the ticker symbol EAD and aims to deliver attractive risk-adjusted returns through a disciplined fixed-income strategy.

The fund’s investment portfolio typically includes corporate bonds spanning investment-grade and high-yield issues, U.S.