Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Shares Down 1.3% – Time to Sell?

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) shares dropped 1.3% during mid-day trading 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 firm’s 50 day moving average price is $6.10 and its 200-day moving average price is $6.44.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.0527 per share. This is a decrease from Wells Fargo Advantage Funds – Allspring Income Opportunities Fund’s previous monthly dividend of $0.0529. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.63 annualized dividend and a dividend yield of 10.4%.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers grew its stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 399.9% during the 1st quarter. Cetera Investment Advisers now owns 77,372 shares of the closed-end fund’s stock worth $501,000 after acquiring an additional 61,894 shares during the period. Royal Bank of Canada boosted its holdings in 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 purchasing an additional 2,116 shares during the period. Readystate Asset Management LP purchased a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 2nd quarter valued at $625,000. Tactive Advisors LLC purchased a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 3rd quarter valued at $87,000. Finally, Curated Wealth Partners LLC purchased a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 3rd quarter valued at $61,000.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Company Profile

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.