Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Stock Price Breaks Below Fifty Day Moving Average – Here’s What Happened

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $6.07 and traded as low as $5.94. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund shares last traded at $5.94, with a volume of 461,324 shares.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Stock Performance

The firm has a 50 day simple moving average of $6.07 and a two-hundred day simple moving average of $6.43.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 11th will be issued a dividend of $0.0523 per share. This is a decrease from Wells Fargo Advantage Funds – Allspring Income Opportunities Fund’s previous monthly dividend of $0.0527. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 10.6%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EAD. Curated Wealth Partners LLC bought a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the third quarter worth about $61,000. Tactive Advisors LLC acquired a new stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the 3rd quarter valued at approximately $87,000. City of London Investment Management Co. Ltd. bought a new stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 3rd quarter valued at approximately $153,000. HighTower Advisors LLC bought a new stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 3rd quarter valued at approximately $158,000. Finally, Royal Bank of Canada grew its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 3.0% during 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 last quarter.

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.