Short Interest in Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Rises By 16.0%

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 16,700 shares, an increase 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

Institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC lifted its position in shares of 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 worth $62,000 after purchasing 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 in the third quarter worth $108,000. Logan Stone Capital LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the second quarter worth $113,000. Encompass More Asset Management bought a new stake in shares of Allspring Multi-Sector Income Fund in the third quarter worth $127,000. Finally, Calamos Advisors LLC acquired a new position in Allspring Multi-Sector Income Fund during the second quarter worth $130,000.

Allspring Multi-Sector Income Fund Price Performance

Allspring Multi-Sector Income Fund stock traded up $0.09 during midday trading on Friday, hitting $9.09. 77,388 shares of the stock were exchanged, compared to its average volume of 87,848. 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 Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be paid a $0.0728 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.87 dividend on an annualized basis and a yield of 9.61%. 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.