Short Interest in Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Rises By 6.3%

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 67,800 shares, an increase of 6.3% from the December 31st total of 63,800 shares. Based on an average trading volume of 135,600 shares, the days-to-cover ratio is currently 0.5 days.

Allspring Multi-Sector Income Fund Stock Up 0.5 %

Shares of Allspring Multi-Sector Income Fund stock opened at $9.34 on Tuesday. Allspring Multi-Sector Income Fund has a 12-month low of $8.77 and a 12-month high of $9.60.

Allspring Multi-Sector Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th will be issued a $0.0728 dividend. This represents a $0.87 annualized dividend and a dividend yield of 9.36%. The ex-dividend date of this dividend is Thursday, February 13th.

Institutional Trading of Allspring Multi-Sector Income Fund

A number of hedge funds have recently added to or reduced their stakes in ERC. International Assets Investment Management LLC raised its position in shares of 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 buying an additional 280,009 shares during the last quarter. Pathstone Holdings LLC acquired a new stake in Allspring Multi-Sector Income Fund during the third quarter worth about $2,942,000. Wolverine Asset Management LLC increased its position in 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 during the last quarter. Benjamin Edwards Inc. purchased a new position in Allspring Multi-Sector Income Fund during the third quarter worth about $1,432,000. Finally, Fiera Capital Corp boosted its stake in 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 buying an additional 3,193 shares during the period.

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.