Short Interest in Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Increases By 500.0%

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 14,400 shares, a growth of 500.0% from the October 15th total of 2,400 shares. Based on an average trading volume of 94,400 shares, the days-to-cover ratio is presently 0.2 days.

Allspring Multi-Sector Income Fund Trading Down 1.2 %

ERC traded down $0.11 during trading on Tuesday, reaching $9.01. 146,072 shares of the company’s stock were exchanged, compared to its average volume of 85,236. Allspring Multi-Sector Income Fund has a fifty-two week low of $8.77 and a fifty-two week high of $9.60.

Allspring Multi-Sector Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.0662 per share. 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 Tuesday, November 12th. This represents a $0.79 annualized dividend and a yield of 8.82%.

Institutional Trading of Allspring Multi-Sector Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of Allspring Multi-Sector Income Fund by 20.3% in the 2nd quarter. Raymond James & Associates now owns 341,266 shares of the company’s stock valued at $3,065,000 after purchasing an additional 57,476 shares during the period. International Assets Investment Management LLC boosted its stake 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 in the last quarter. Pathstone Holdings LLC bought a new stake in Allspring Multi-Sector Income Fund in the third quarter worth approximately $2,942,000. Wolverine Asset Management LLC increased its holdings in shares of Allspring Multi-Sector Income Fund by 47.3% during the third 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Allspring Multi-Sector Income Fund by 6.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 124,447 shares of the company’s stock valued at $1,118,000 after purchasing an additional 7,573 shares during the period.

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.