Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Short Interest Update

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 16,700 shares, a growth of 16.0% from the October 31st total of 14,400 shares. Based on an average daily trading volume, of 106,700 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC boosted its stake in Allspring Multi-Sector Income Fund by 672.3% in the third quarter. Avior Wealth Management LLC now owns 6,441 shares of the company’s stock valued at $62,000 after buying an additional 5,607 shares in the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Allspring Multi-Sector Income Fund during the 3rd quarter valued at approximately $108,000. Logan Stone Capital LLC acquired a new position in Allspring Multi-Sector Income Fund during the 2nd quarter worth approximately $113,000. Encompass More Asset Management bought a new position in Allspring Multi-Sector Income Fund in the 3rd quarter valued at approximately $127,000. Finally, Calamos Advisors LLC acquired a new stake in Allspring Multi-Sector Income Fund in the second quarter valued at approximately $130,000.

Allspring Multi-Sector Income Fund Price Performance

NYSEAMERICAN ERC traded up $0.03 during trading on Tuesday, reaching $9.13. The company’s stock had a trading volume of 107,168 shares, compared to its average volume of 88,034. 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 business also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.0728 per share. This represents a $0.87 dividend on an annualized basis and a yield of 9.57%. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07.

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.