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

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 22,110 shares, a decrease of 77.5% from the December 15th total of 98,197 shares. Based on an average trading volume of 138,104 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 138,104 shares, the short-interest ratio is currently 0.2 days.

Allspring Multi-Sector Income Fund Price Performance

Allspring Multi-Sector Income Fund stock traded up $0.02 during midday trading on Tuesday, reaching $9.34. The company’s stock had a trading volume of 65,681 shares, compared to its average volume of 107,408. Allspring Multi-Sector Income Fund has a fifty-two week low of $8.44 and a fifty-two week high of $9.77. The stock’s 50 day simple moving average is $9.37 and its 200 day simple moving average is $9.44.

Allspring Multi-Sector Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.0723 dividend. This represents a c) annualized dividend and a dividend yield of 9.3%. This is a positive change from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. The ex-dividend date is Monday, January 12th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position in shares of Allspring Multi-Sector Income Fund by 31.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 253,620 shares of the company’s stock valued at $2,430,000 after acquiring an additional 60,193 shares during the period. Raymond James Financial Inc. increased its stake in Allspring Multi-Sector Income Fund by 1.5% in the 3rd quarter. Raymond James Financial Inc. now owns 815,458 shares of the company’s stock valued at $7,812,000 after purchasing an additional 11,916 shares in the last quarter. Virtu Financial LLC acquired a new position in Allspring Multi-Sector Income Fund during the third quarter worth $117,000. Invesco Ltd. raised its holdings in Allspring Multi-Sector Income Fund by 5.1% during the third quarter. Invesco Ltd. now owns 549,235 shares of the company’s stock worth $5,262,000 after purchasing an additional 26,690 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Allspring Multi-Sector Income Fund by 12.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 24,510 shares of the company’s stock worth $238,000 after purchasing an additional 2,793 shares in the last quarter.

Allspring Multi-Sector Income Fund Company Profile

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.