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

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a significant growth in short interest during the month of 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 volume of 106,700 shares, the short-interest ratio is presently 0.2 days.

Allspring Multi-Sector Income Fund Stock Up 0.2 %

Shares of ERC traded up $0.02 during mid-day trading on Tuesday, reaching $9.12. 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 1-year low of $8.77 and a 1-year 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. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.0728 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 9.58%. This is a positive change from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07.

Hedge Funds Weigh In On Allspring Multi-Sector Income Fund

A number of large investors have recently made changes to their positions in the company. Raymond James & Associates increased its stake in shares of Allspring Multi-Sector Income Fund by 20.3% during the second quarter. Raymond James & Associates now owns 341,266 shares of the company’s stock worth $3,065,000 after purchasing an additional 57,476 shares during the period. International Assets Investment Management LLC increased its stake in Allspring Multi-Sector Income Fund by 921.0% during the 3rd quarter. International Assets Investment Management LLC now owns 310,411 shares of the company’s stock worth $32,402,000 after acquiring an additional 280,009 shares during the period. Pathstone Holdings LLC bought a new position in Allspring Multi-Sector Income Fund during the 3rd quarter worth $2,942,000. Wolverine Asset Management LLC increased 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 worth $1,452,000 after acquiring an additional 48,692 shares during the period. Finally, Benjamin Edwards Inc. bought a new position in Allspring Multi-Sector Income Fund during the 3rd quarter worth $1,432,000.

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.