Wells Fargo Advantage Multi-Sector Income Fund (NYSEAMERICAN:ERC) Short Interest Up 662.5% in September

Wells Fargo Advantage Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 475,800 shares, an increase of 662.5% from the September 15th total of 62,400 shares. Based on an average daily trading volume, of 117,400 shares, the days-to-cover ratio is currently 4.1 days.

Wells Fargo Advantage Multi-Sector Income Fund stock traded down $0.14 during midday trading on Thursday, hitting $13.26. 93,215 shares of the company’s stock were exchanged, compared to its average volume of 93,804. Wells Fargo Advantage Multi-Sector Income Fund has a 52-week low of $10.77 and a 52-week high of $14.07.

The business also recently announced a monthly dividend, which will be paid on Monday, November 1st. Stockholders of record on Wednesday, October 13th will be paid a $0.0958 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 8.67%. The ex-dividend date of this dividend is Tuesday, October 12th. This is a positive change from Wells Fargo Advantage Multi-Sector Income Fund’s previous monthly dividend of $0.10.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in Wells Fargo Advantage Multi-Sector Income Fund by 5.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,246 shares of the company’s stock valued at $215,000 after purchasing an additional 920 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Wells Fargo Advantage Multi-Sector Income Fund by 1.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 82,024 shares of the company’s stock valued at $1,025,000 after purchasing an additional 1,388 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Wells Fargo Advantage Multi-Sector Income Fund by 14.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 14,054 shares of the company’s stock worth $180,000 after acquiring an additional 1,823 shares during the period. Bank of America Corp DE grew its holdings in shares of Wells Fargo Advantage Multi-Sector Income Fund by 2.4% during the 2nd quarter. Bank of America Corp DE now owns 85,034 shares of the company’s stock worth $1,089,000 after acquiring an additional 1,992 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Wells Fargo Advantage Multi-Sector Income Fund by 4.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 62,178 shares of the company’s stock worth $796,000 after acquiring an additional 2,386 shares during the period.

Wells Fargo Advantage Multi-Sector Income Fund Company Profile

Wells Fargo Advantage 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.

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