Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Short Interest Update

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC lifted its position in shares of Allspring Multi-Sector Income Fund by 672.3% during 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. Wolverine Asset Management LLC lifted its position 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 worth $1,452,000 after purchasing an additional 48,692 shares in the last quarter. Fiera Capital Corp lifted its position in shares of Allspring Multi-Sector Income Fund by 2.9% during the third quarter. Fiera Capital Corp now owns 114,029 shares of the company’s stock worth $1,092,000 after purchasing an additional 3,193 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in Allspring Multi-Sector Income Fund in the third quarter valued at $108,000. Finally, International Assets Investment Management LLC raised its holdings in Allspring Multi-Sector Income Fund by 921.0% in the third quarter. International Assets Investment Management LLC now owns 310,411 shares of the company’s stock valued at $32,402,000 after acquiring an additional 280,009 shares in the last quarter.

Allspring Multi-Sector Income Fund Stock Down 0.3 %

ERC stock traded down $0.03 during midday trading on Thursday, reaching $8.94. 211,341 shares of the company’s stock traded hands, compared to its average volume of 86,076. 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 firm also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be given a dividend of $0.0728 per share. This represents a $0.87 dividend on an annualized basis and a yield of 9.77%. This is a boost from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Thursday, December 12th.

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.