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

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 67,800 shares, an increase of 6.3% from the December 31st total of 63,800 shares. Based on an average daily trading volume, of 135,600 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of ERC. International Assets Investment Management LLC lifted its holdings in shares of Allspring Multi-Sector Income Fund by 921.0% during the third quarter. International Assets Investment Management LLC now owns 310,411 shares of the company’s stock valued at $32,402,000 after purchasing an additional 280,009 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Allspring Multi-Sector Income Fund in the 3rd quarter worth $108,000. Fiera Capital Corp boosted its position in shares of Allspring Multi-Sector Income Fund by 2.9% during the third quarter. Fiera Capital Corp now owns 114,029 shares of the company’s stock valued at $1,092,000 after buying an additional 3,193 shares during the last quarter. Wolverine Asset Management LLC lifted its stake in Allspring Multi-Sector Income Fund by 47.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 151,583 shares of the company’s stock valued at $1,452,000 after acquiring an additional 48,692 shares during the period. Finally, Pathstone Holdings LLC bought a new position in Allspring Multi-Sector Income Fund during the third quarter valued at approximately $2,942,000.

Allspring Multi-Sector Income Fund Price Performance

Shares of ERC stock opened at $9.31 on Tuesday. Allspring Multi-Sector Income Fund has a 52 week low of $8.77 and a 52 week high of $9.60.

Allspring Multi-Sector Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 13th will be given a dividend of $0.0728 per share. The ex-dividend date is Thursday, February 13th. This represents a $0.87 dividend on an annualized basis and a yield of 9.39%.

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.