Short Interest in Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Rises By 44.5%

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 55,091 shares, an increase of 44.5% from the February 26th total of 38,117 shares. Based on an average daily volume of 84,910 shares, the days-to-cover ratio is presently 0.6 days.

Allspring Multi-Sector Income Fund Stock Performance

NYSEAMERICAN:ERC traded down $0.06 during mid-day trading on Monday, hitting $8.73. 81,123 shares of the stock traded hands, compared to its average volume of 93,047. Allspring Multi-Sector Income Fund has a 52 week low of $8.44 and a 52 week high of $9.77. The firm’s 50 day moving average is $9.26 and its two-hundred day moving average is $9.37.

Allspring Multi-Sector Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a dividend of $0.0727 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a c) dividend on an annualized basis and a dividend yield of 10.0%. This is an increase from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07.

Hedge Funds Weigh In On Allspring Multi-Sector Income Fund

Hedge funds have recently bought and sold shares of the business. Sit Investment Associates Inc. grew its position in shares of Allspring Multi-Sector Income Fund by 20.2% during the 4th quarter. Sit Investment Associates Inc. now owns 3,060,969 shares of the company’s stock worth $28,467,000 after buying an additional 514,147 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Allspring Multi-Sector Income Fund by 1.5% in the third quarter. Raymond James Financial Inc. now owns 815,458 shares of the company’s stock worth $7,812,000 after acquiring an additional 11,916 shares during the period. Royal Bank of Canada grew its holdings in Allspring Multi-Sector Income Fund by 7.8% during the 4th quarter. Royal Bank of Canada now owns 795,447 shares of the company’s stock worth $7,398,000 after acquiring an additional 57,826 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Allspring Multi-Sector Income Fund by 29.0% during the 4th quarter. Guggenheim Capital LLC now owns 711,529 shares of the company’s stock worth $6,617,000 after acquiring an additional 160,109 shares in the last quarter. Finally, Invesco Ltd. increased its position in Allspring Multi-Sector Income Fund by 5.1% during the 3rd quarter. Invesco Ltd. now owns 549,235 shares of the company’s stock valued at $5,262,000 after purchasing an additional 26,690 shares during the period.

About Allspring Multi-Sector Income Fund

Allspring Multi-Sector Income Fund (NYSE American: ERC) is a closed-end management investment company that seeks to provide high current income and total return by investing in a diversified portfolio of fixed-income securities. The fund trades on the NYSE American exchange and employs an active, research-driven approach to credit selection across multiple sectors of the debt market.

The fund’s investment strategy spans a broad array of fixed-income instruments, including corporate bonds, bank loans, securitized products such as mortgage- and asset-backed securities, and sovereign debt.