Short Interest in Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Increases By 225.8%

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 21,500 shares, an increase of 225.8% from the August 15th total of 6,600 shares. Based on an average trading volume of 89,500 shares, the days-to-cover ratio is presently 0.2 days.

Allspring Multi-Sector Income Fund Price Performance

Allspring Multi-Sector Income Fund stock traded down $0.04 during mid-day trading on Friday, hitting $9.31. The company had a trading volume of 65,590 shares, compared to its average volume of 80,859. Allspring Multi-Sector Income Fund has a 12 month low of $8.51 and a 12 month high of $9.60.

Allspring Multi-Sector Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.0659 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 8.49%. The ex-dividend date of this dividend is Friday, September 13th.

Hedge Funds Weigh In On Allspring Multi-Sector Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of ERC. Logan Stone Capital LLC purchased a new stake in Allspring Multi-Sector Income Fund during the second quarter valued at approximately $113,000. Calamos Advisors LLC purchased a new position in Allspring Multi-Sector Income Fund during the second quarter valued at $130,000. Choreo LLC bought a new stake in Allspring Multi-Sector Income Fund during the first quarter valued at about $200,000. International Assets Investment Management LLC increased its position in Allspring Multi-Sector Income Fund by 8.0% in the second quarter. International Assets Investment Management LLC now owns 30,402 shares of the company’s stock worth $273,000 after buying an additional 2,250 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its stake in shares of Allspring Multi-Sector Income Fund by 127.9% in the second quarter. Wolverine Asset Management LLC now owns 102,891 shares of the company’s stock worth $924,000 after buying an additional 57,740 shares during the period.

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.