Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Stock Price Down 1.3% – Here’s What Happened

Shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) were down 1.3% on Thursday. The stock traded as low as $6.01 and last traded at $6.03. 243,474 shares changed hands during trading, an increase of 6% from the average session volume of 229,783 shares. The stock had previously closed at $6.11.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Price Performance

The stock’s fifty day moving average is $6.10 and its 200-day moving average is $6.45.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Thursday, November 12th will be issued a $0.0527 dividend. This represents a $0.63 annualized dividend and a yield of 10.5%. The ex-dividend date is Thursday, November 12th. This is a negative change from Wells Fargo Advantage Funds – Allspring Income Opportunities Fund’s previous monthly dividend of $0.0529.

Institutional Trading of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 3.0% during the 1st quarter. Royal Bank of Canada now owns 72,166 shares of the closed-end fund’s stock worth $468,000 after buying an additional 2,116 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 9.0% in the third quarter. Commonwealth Equity Services LLC now owns 91,995 shares of the closed-end fund’s stock worth $553,000 after acquiring an additional 7,593 shares during the period. Curated Wealth Partners LLC acquired a new stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the third quarter worth $61,000. Tactive Advisors LLC acquired a new stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the third quarter worth $87,000. Finally, City of London Investment Management Co. Ltd. purchased a new stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the third quarter valued at $153,000.

About Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund is a closed-end investment fund traded on the NYSE American under the symbol EAD. The fund seeks to provide investors with a high level of current income and, as a secondary objective, capital appreciation.

The fund invests primarily in a diversified portfolio of income-producing securities. These may include high-yield corporate bonds, bank loans, and other fixed-income instruments issued by companies and governments. Its portfolio may include below-investment-grade securities, which can offer higher income but generally involve greater credit and market risk.

The fund is advised and managed within the Allspring family of investment companies.