Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Sees Significant Drop in Short Interest

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 29,200 shares, a drop of 36.5% from the February 13th total of 46,000 shares. Based on an average daily volume of 126,900 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sowell Financial Services LLC grew its position in Allspring Multi-Sector Income Fund by 6.0% during the fourth quarter. Sowell Financial Services LLC now owns 168,588 shares of the company’s stock valued at $1,549,000 after buying an additional 9,538 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Allspring Multi-Sector Income Fund by 44.3% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,872 shares of the company’s stock valued at $183,000 after acquiring an additional 6,101 shares during the period. GraniteShares Advisors LLC purchased a new stake in shares of Allspring Multi-Sector Income Fund during the 4th quarter worth approximately $2,473,000. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 4th quarter worth approximately $101,000. Finally, Apollon Wealth Management LLC purchased a new position in Allspring Multi-Sector Income Fund in the fourth quarter valued at approximately $169,000.

Allspring Multi-Sector Income Fund Price Performance

ERC remained flat at $9.21 during mid-day trading on Friday. 109,686 shares of the company’s stock were exchanged, compared to its average volume of 105,873. The stock’s 50-day simple moving average is $9.17. Allspring Multi-Sector Income Fund has a 1 year low of $8.77 and a 1 year high of $9.58.

Allspring Multi-Sector Income Fund Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be given a $0.0727 dividend. This represents a yield of 8.9%. The ex-dividend date of this dividend is Thursday, March 13th.

About Allspring Multi-Sector Income Fund

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.