Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $6.55 and traded as high as $6.58. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund shares last traded at $6.57, with a volume of 83,098 shares.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Trading Up 0.3%

The firm’s fifty day moving average is $6.55 and its 200-day moving average is $6.72.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be issued a dividend of $0.0534 per share. This is an increase from Wells Fargo Advantage Funds – Allspring Income Opportunities Fund’s previous monthly dividend of $0.05. This represents a c) annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EAD. Wolverine Asset Management LLC increased its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 797.7% in the 4th quarter. Wolverine Asset Management LLC now owns 85,393 shares of the closed-end fund’s stock valued at $579,000 after purchasing an additional 75,881 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 14.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 16,457 shares of the closed-end fund’s stock valued at $112,000 after purchasing an additional 2,113 shares in the last quarter. GC Wealth Management RIA LLC purchased a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the 4th quarter valued at about $128,000. Shaker Financial Services LLC increased its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 16.4% in the 4th quarter. Shaker Financial Services LLC now owns 586,829 shares of the closed-end fund’s stock valued at $4,005,000 after purchasing an additional 82,826 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 22.0% in the 4th quarter. PFG Investments LLC now owns 69,895 shares of the closed-end fund’s stock valued at $474,000 after purchasing an additional 12,592 shares in the last quarter.

About Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

The Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSE American: EAD) is a diversified, closed-end management investment company that seeks current income by investing primarily in a broad array of income-producing debt instruments. Originally launched as part of the Wells Fargo Advantage Funds family, the fund is now managed by Allspring Global Investments. It trades on the NYSE American exchange under the ticker symbol EAD and aims to deliver attractive risk-adjusted returns through a disciplined fixed-income strategy.

The fund’s investment portfolio typically includes corporate bonds spanning investment-grade and high-yield issues, U.S.