Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Sees Large Growth in Short Interest

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 21,800 shares, a growth of 30.5% from the November 15th total of 16,700 shares. Based on an average daily trading volume, of 109,400 shares, the short-interest ratio is presently 0.2 days.

Allspring Multi-Sector Income Fund Price Performance

NYSEAMERICAN:ERC traded up $0.01 during trading hours on Friday, reaching $9.13. The company’s stock had a trading volume of 225,326 shares, compared to its average volume of 90,098. Allspring Multi-Sector Income Fund has a 12 month low of $8.77 and a 12 month high of $9.60.

Allspring Multi-Sector Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be given a $0.0728 dividend. This represents a $0.87 annualized dividend and a dividend yield of 9.57%. This is an increase from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Thursday, December 12th.

Hedge Funds Weigh In On Allspring Multi-Sector Income Fund

Several hedge funds have recently made changes to their positions in the company. Pathstone Holdings LLC purchased a new stake in Allspring Multi-Sector Income Fund in the third quarter valued at $2,942,000. International Assets Investment Management LLC boosted its holdings in Allspring Multi-Sector Income Fund by 921.0% in 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. Benjamin Edwards Inc. purchased a new stake in Allspring Multi-Sector Income Fund in the third quarter valued at $1,432,000. Wolverine Asset Management LLC boosted its stake in shares of Allspring Multi-Sector Income Fund by 127.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 102,891 shares of the company’s stock worth $924,000 after acquiring an additional 57,740 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Allspring Multi-Sector Income Fund by 20.3% during the 2nd quarter. Raymond James & Associates now owns 341,266 shares of the company’s stock worth $3,065,000 after acquiring an additional 57,476 shares in the last quarter.

About Allspring Multi-Sector Income Fund

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.