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 increase in short interest in November. As of November 30th, there was short interest totalling 21,800 shares, an increase of 30.5% from the November 15th total of 16,700 shares. Based on an average trading volume of 109,400 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in ERC. Avior Wealth Management LLC grew its holdings in shares of Allspring Multi-Sector Income Fund by 672.3% in the 3rd quarter. Avior Wealth Management LLC now owns 6,441 shares of the company’s stock worth $62,000 after acquiring an additional 5,607 shares during the period. Heritage Wealth Management Inc. acquired a new position in Allspring Multi-Sector Income Fund during the third quarter worth $108,000. Logan Stone Capital LLC acquired a new position in Allspring Multi-Sector Income Fund during the second quarter worth $113,000. Encompass More Asset Management acquired a new position in Allspring Multi-Sector Income Fund during 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 Trading Up 0.1 %

Shares of ERC stock traded up $0.01 on Friday, reaching $9.13. 225,326 shares of the stock were exchanged, compared to its average volume of 90,098. Allspring Multi-Sector Income Fund has a twelve month low of $8.77 and a twelve month 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. Investors of record on Thursday, December 12th will be given a $0.0728 dividend. The ex-dividend date is Thursday, December 12th. This is a boost from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. This represents a $0.87 dividend on an annualized basis and a yield of 9.57%.

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.