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

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the target of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 35,380 shares, a drop of 27.3% from the January 15th total of 48,664 shares. Based on an average daily trading volume, of 82,557 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 82,557 shares, the days-to-cover ratio is currently 0.4 days.

Allspring Multi-Sector Income Fund Price Performance

Shares of ERC stock traded up $0.02 on Friday, hitting $9.40. The stock had a trading volume of 67,174 shares, compared to its average volume of 112,069. The stock’s 50 day moving average is $9.38 and its 200-day moving average is $9.43. Allspring Multi-Sector Income Fund has a 52-week low of $8.44 and a 52-week high of $9.77.

Allspring Multi-Sector Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.0724 per share. The ex-dividend date is Thursday, February 12th. This represents a c) annualized dividend and a yield of 9.2%. This is a boost from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07.

Institutional Trading of Allspring Multi-Sector Income Fund

A number of hedge funds have recently made changes to their positions in ERC. Kestra Advisory Services LLC acquired a new stake in Allspring Multi-Sector Income Fund in the fourth quarter valued at $74,000. Advisors Asset Management Inc. acquired a new stake in shares of Allspring Multi-Sector Income Fund in the 4th quarter valued at about $832,000. Sit Investment Associates Inc. lifted its position in shares of Allspring Multi-Sector Income Fund by 20.2% during the fourth quarter. Sit Investment Associates Inc. now owns 3,060,969 shares of the company’s stock worth $28,467,000 after purchasing an additional 514,147 shares during the last quarter. LPL Financial LLC lifted its position in shares of Allspring Multi-Sector Income Fund by 23.0% during the fourth quarter. LPL Financial LLC now owns 125,640 shares of the company’s stock worth $1,168,000 after purchasing an additional 23,513 shares during the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new position in Allspring Multi-Sector Income Fund in the fourth quarter worth about $341,000.

Allspring Multi-Sector Income Fund Company Profile

Allspring Multi-Sector Income Fund (NYSE American: ERC) is a closed-end management investment company that seeks to provide high current income and total return by investing in a diversified portfolio of fixed-income securities. The fund trades on the NYSE American exchange and employs an active, research-driven approach to credit selection across multiple sectors of the debt market.

The fund’s investment strategy spans a broad array of fixed-income instruments, including corporate bonds, bank loans, securitized products such as mortgage- and asset-backed securities, and sovereign debt.