Short Interest in Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Grows 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.

Hedge Funds Weigh In On Allspring Multi-Sector Income Fund

Large investors have recently modified their holdings of the company. Choreo LLC lifted its stake in Allspring Multi-Sector Income Fund by 6.8% during the 2nd quarter. Choreo LLC now owns 22,899 shares of the company’s stock valued at $206,000 after acquiring an additional 1,466 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Allspring Multi-Sector Income Fund by 8.0% during the 2nd quarter. International Assets Investment Management LLC now owns 30,402 shares of the company’s stock valued at $273,000 after acquiring an additional 2,250 shares in the last quarter. Fiera Capital Corp lifted its stake in Allspring Multi-Sector Income Fund by 2.9% during the 3rd quarter. Fiera Capital Corp now owns 114,029 shares of the company’s stock valued at $1,092,000 after acquiring an additional 3,193 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of Allspring Multi-Sector Income Fund by 31.4% during the 3rd quarter. Moors & Cabot Inc. now owns 18,000 shares of the company’s stock valued at $172,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Allspring Multi-Sector Income Fund by 672.3% during the 3rd quarter. Avior Wealth Management LLC now owns 6,441 shares of the company’s stock valued at $62,000 after purchasing an additional 5,607 shares during the last quarter.

Allspring Multi-Sector Income Fund Stock Up 1.0 %

Shares of ERC stock traded up $0.09 during trading hours on Friday, hitting $9.09. 77,388 shares of the company were exchanged, compared to its average volume of 87,848. 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 company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be issued a $0.0728 dividend. 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 dividend yield of 9.61%. The ex-dividend date is Thursday, December 12th.

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.