Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Short Interest Update

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 177,337 shares, an increase of 71.1% from the August 31st total of 103,662 shares. Based on an average daily trading volume, of 213,315 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Readystate Asset Management LP purchased a new stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the second quarter valued at $625,000. Royal Bank of Canada raised its stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 3.0% in the 1st quarter. Royal Bank of Canada now owns 72,166 shares of the closed-end fund’s stock valued at $468,000 after acquiring an additional 2,116 shares during the period. Cetera Investment Advisers boosted its position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 399.9% in the first quarter. Cetera Investment Advisers now owns 77,372 shares of the closed-end fund’s stock worth $501,000 after buying an additional 61,894 shares during the period. Corient Private Wealth LLC purchased a new stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the fourth quarter valued at approximately $819,000. Finally, Sit Investment Associates Inc. grew its stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 23.8% during the fourth quarter. Sit Investment Associates Inc. now owns 1,619,702 shares of the closed-end fund’s stock valued at $10,982,000 after acquiring an additional 311,355 shares in the last quarter.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Price Performance

NYSEAMERICAN EAD opened at $6.01 on Friday. The firm has a 50 day simple moving average of $6.29 and a 200-day simple moving average of $6.43. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund has a one year low of $5.92 and a one year high of $7.06.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be paid a $0.0529 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $0.64 annualized dividend and a yield of 10.6%. This is a decrease from Wells Fargo Advantage Funds – Allspring Income Opportunities Fund’s previous monthly dividend of $0.0531.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Company Profile

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund is a closed-end investment fund listed on the NYSE American under the symbol EAD. The fund is designed to provide investors with a high level of current income and, secondarily, long-term capital appreciation.

The fund invests primarily in income-producing securities, including corporate debt, high-yield bonds, floating-rate loans and other fixed-income instruments. Its portfolio may include securities issued by companies across a range of industries and credit qualities, with an emphasis on opportunities that offer attractive income potential.

Allspring Income Opportunities Fund is managed by Allspring Funds Management, part of Allspring Global Investments, an asset-management firm that was formerly associated with Wells Fargo Asset Management.