Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Stock Short Interest Rises 71.1%

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 177,337 shares, a growth of 71.1% from the August 31st total of 103,662 shares. Based on an average daily volume of 213,315 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Trading of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

Large investors have recently made changes to their positions in the company. Peak Planning Group LLC acquired a new position in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the fourth quarter worth $8,062,000. Sit Investment Associates Inc. increased its stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 23.8% in the fourth quarter. Sit Investment Associates Inc. now owns 1,619,702 shares of the closed-end fund’s stock valued at $10,982,000 after purchasing an additional 311,355 shares during the period. Corient Private Wealth LLC bought a new stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the fourth quarter worth about $819,000. Readystate Asset Management LP acquired a new stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 2nd quarter worth about $625,000. Finally, Cetera Investment Advisers lifted its stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 399.9% in the 1st quarter. Cetera Investment Advisers now owns 77,372 shares of the closed-end fund’s stock valued at $501,000 after purchasing an additional 61,894 shares during the last quarter.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Price Performance

Shares of EAD remained flat at $6.01 during mid-day trading on Thursday. The stock had a trading volume of 282,035 shares, compared to its average volume of 215,016. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund has a twelve month low of $5.92 and a twelve month high of $7.06. The stock has a 50-day simple moving average of $6.30 and a 200-day simple moving average of $6.43.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be paid a $0.0529 dividend. This is a drop from Wells Fargo Advantage Funds – Allspring Income Opportunities Fund’s previous monthly dividend of $0.0531. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend is Tuesday, October 13th.

About Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund is a closed-end investment fund listed on the NYSE American under the symbol EAD. The fund is designed to provide investors with a high level of current income and, secondarily, long-term capital appreciation.

The fund invests primarily in income-producing securities, including corporate debt, high-yield bonds, floating-rate loans and other fixed-income instruments. Its portfolio may include securities issued by companies across a range of industries and credit qualities, with an emphasis on opportunities that offer attractive income potential.

Allspring Income Opportunities Fund is managed by Allspring Funds Management, part of Allspring Global Investments, an asset-management firm that was formerly associated with Wells Fargo Asset Management.