Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Sees Large Growth in Short Interest

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 21,500 shares, an increase of 225.8% from the August 15th total of 6,600 shares. Based on an average daily trading volume, of 89,500 shares, the short-interest ratio is presently 0.2 days.

Allspring Multi-Sector Income Fund Stock Performance

Shares of Allspring Multi-Sector Income Fund stock remained flat at $9.35 during trading on Thursday. 90,656 shares of the stock were exchanged, compared to its average volume of 80,946. Allspring Multi-Sector Income Fund has a 1-year low of $8.51 and a 1-year high of $9.60.

Allspring Multi-Sector Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.0659 per share. This represents a $0.79 annualized dividend and a yield of 8.46%. The ex-dividend date is Friday, September 13th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ERC. Logan Stone Capital LLC acquired a new position in shares of Allspring Multi-Sector Income Fund in the 2nd quarter valued at about $113,000. Calamos Advisors LLC bought a new position in Allspring Multi-Sector Income Fund in the second quarter worth about $130,000. Choreo LLC bought a new position in Allspring Multi-Sector Income Fund in the first quarter worth about $200,000. International Assets Investment Management LLC boosted its stake in Allspring Multi-Sector Income Fund by 8.0% in the second quarter. International Assets Investment Management LLC now owns 30,402 shares of the company’s stock valued at $273,000 after acquiring an additional 2,250 shares during the period. Finally, Wolverine Asset Management LLC grew its holdings in shares of Allspring Multi-Sector Income Fund by 127.9% during the second quarter. Wolverine Asset Management LLC now owns 102,891 shares of the company’s stock valued at $924,000 after purchasing an additional 57,740 shares during the last quarter.

Allspring Multi-Sector Income Fund Company Profile

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.