Short Interest in Wells Fargo Advantage Multi-Sector Income Fund (NYSEAMERICAN:ERC) Grows By 662.5%

Wells Fargo Advantage Multi-Sector Income Fund (NYSEAMERICAN:ERC) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 475,800 shares, a growth of 662.5% from the September 15th total of 62,400 shares. Based on an average daily trading volume, of 117,400 shares, the days-to-cover ratio is presently 4.1 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERC. Cohen & Steers Inc. lifted its stake in Wells Fargo Advantage Multi-Sector Income Fund by 27.3% in the 1st quarter. Cohen & Steers Inc. now owns 431,807 shares of the company’s stock valued at $5,398,000 after acquiring an additional 92,497 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Wells Fargo Advantage Multi-Sector Income Fund by 20.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 135,903 shares of the company’s stock worth $1,741,000 after purchasing an additional 23,315 shares in the last quarter. Morgan Stanley raised its stake in shares of Wells Fargo Advantage Multi-Sector Income Fund by 6.7% during the 1st quarter. Morgan Stanley now owns 248,458 shares of the company’s stock worth $3,106,000 after purchasing an additional 15,652 shares in the last quarter. Fiera Capital Corp raised its stake in shares of Wells Fargo Advantage Multi-Sector Income Fund by 34.1% during the 2nd quarter. Fiera Capital Corp now owns 60,294 shares of the company’s stock worth $664,000 after purchasing an additional 15,320 shares in the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV raised its stake in shares of Wells Fargo Advantage Multi-Sector Income Fund by 19.0% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 75,650 shares of the company’s stock worth $969,000 after purchasing an additional 12,098 shares in the last quarter.

Shares of ERC traded down $0.14 on Thursday, hitting $13.26. The company’s stock had a trading volume of 93,215 shares, compared to its average volume of 93,804. Wells Fargo Advantage Multi-Sector Income Fund has a fifty-two week low of $10.77 and a fifty-two week high of $14.07.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 1st. Investors of record on Wednesday, October 13th will be given a $0.0958 dividend. The ex-dividend date of this dividend is Tuesday, October 12th. This is a positive change from Wells Fargo Advantage Multi-Sector Income Fund’s previous monthly dividend of $0.10. This represents a $1.15 annualized dividend and a dividend yield of 8.67%.

Wells Fargo Advantage Multi-Sector Income Fund Company Profile

Wells Fargo Advantage 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.

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