Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Shares Pass Above 50 Day Moving Average – Time to Sell?

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC)’s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.00 and traded as high as $9.37. Allspring Multi-Sector Income Fund shares last traded at $9.37, with a volume of 101,608 shares traded.

Allspring Multi-Sector Income Fund Trading Up 0.3 %

Allspring Multi-Sector Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th will be given a $0.0728 dividend. The ex-dividend date is Thursday, February 13th. This represents a $0.87 annualized dividend and a dividend yield of 9.33%.

Institutional Trading of Allspring Multi-Sector Income Fund

Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in Allspring Multi-Sector Income Fund in the fourth quarter valued at approximately $107,000. Bank of America Corp DE boosted its position in Allspring Multi-Sector Income Fund by 13.2% during the 4th quarter. Bank of America Corp DE now owns 73,647 shares of the company’s stock valued at $677,000 after purchasing an additional 8,610 shares during the period. AQR Arbitrage LLC boosted its position in Allspring Multi-Sector Income Fund by 7.4% during the 4th quarter. AQR Arbitrage LLC now owns 151,085 shares of the company’s stock valued at $1,366,000 after purchasing an additional 10,423 shares during the period. 1607 Capital Partners LLC grew its stake in Allspring Multi-Sector Income Fund by 132.4% during the 4th quarter. 1607 Capital Partners LLC now owns 783,438 shares of the company’s stock worth $7,200,000 after buying an additional 446,338 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in Allspring Multi-Sector Income Fund by 48.3% in the fourth quarter. Guggenheim Capital LLC now owns 57,484 shares of the company’s stock worth $528,000 after buying an additional 18,719 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.