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 large increase in short interest in the month of December. As of December 31st, there was short interest totalling 67,800 shares, an increase of 6.3% from the December 15th total of 63,800 shares. Based on an average trading volume of 135,600 shares, the short-interest ratio is presently 0.5 days.

Allspring Multi-Sector Income Fund Stock Down 0.5 %

ERC stock traded down $0.05 during trading on Monday, reaching $9.10. 76,677 shares of the stock were exchanged, compared to its average volume of 107,089. Allspring Multi-Sector Income Fund has a 1 year low of $8.77 and a 1 year high of $9.60.

Allspring Multi-Sector Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be issued a $0.0729 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 9.62%. The ex-dividend date of this dividend is Monday, January 13th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of Allspring Multi-Sector Income Fund by 921.0% during 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 during the last quarter. Pathstone Holdings LLC acquired a new position in Allspring Multi-Sector Income Fund during the third quarter worth $2,942,000. Wolverine Asset Management LLC boosted 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 buying an additional 48,692 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Allspring Multi-Sector Income Fund in the third quarter valued at $1,432,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Allspring Multi-Sector Income Fund by 6.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 124,447 shares of the company’s stock valued at $1,118,000 after buying an additional 7,573 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.