Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Sees Large Increase in Short Interest

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 79,500 shares, an increase of 172.3% from the February 28th total of 29,200 shares. Based on an average daily volume of 114,800 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

Several hedge funds have recently bought and sold shares of ERC. VSM Wealth Advisory LLC bought a new position in shares of Allspring Multi-Sector Income Fund during the 4th quarter valued at about $52,000. Independent Advisor Alliance acquired a new stake in shares of Allspring Multi-Sector Income Fund in the fourth quarter valued at approximately $425,000. Rareview Capital LLC lifted its position in shares of Allspring Multi-Sector Income Fund by 119.5% in the fourth quarter. Rareview Capital LLC now owns 159,740 shares of the company’s stock worth $1,530,000 after purchasing an additional 86,978 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in Allspring Multi-Sector Income Fund by 6.0% during the fourth quarter. Sowell Financial Services LLC now owns 168,588 shares of the company’s stock worth $1,549,000 after purchasing an additional 9,538 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in Allspring Multi-Sector Income Fund by 44.3% during the fourth quarter. Concurrent Investment Advisors LLC now owns 19,872 shares of the company’s stock worth $183,000 after purchasing an additional 6,101 shares during the last quarter.

Allspring Multi-Sector Income Fund Price Performance

Shares of ERC stock traded down $0.02 on Thursday, reaching $9.25. The company had a trading volume of 37,437 shares, compared to its average volume of 103,565. The stock’s 50-day simple moving average is $9.22. Allspring Multi-Sector Income Fund has a 12 month low of $8.77 and a 12 month high of $9.58.

Allspring Multi-Sector Income Fund Dividend Announcement

The company also recently announced a — dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be paid a $0.0727 dividend. This represents a yield of 8.9%. The ex-dividend date is Thursday, March 13th.

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.