Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Stock Short Interest Declines 47.6%

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 49,603 shares, a decrease of 47.6% from the August 31st total of 94,745 shares. Based on an average daily trading volume, of 67,426 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new stake in Allspring Multi-Sector Income Fund in the second quarter worth about $116,000. Equitable Holdings Inc. bought a new position in Allspring Multi-Sector Income Fund during the 2nd quarter valued at approximately $551,000. Northwestern Mutual Wealth Management Co. bought a new position in Allspring Multi-Sector Income Fund during the 2nd quarter valued at approximately $1,191,000. Allworth Financial LP purchased a new position in Allspring Multi-Sector Income Fund during the second quarter valued at $102,000. Finally, Royal Bank of Canada grew its stake in shares of Allspring Multi-Sector Income Fund by 5.7% in the first quarter. Royal Bank of Canada now owns 840,687 shares of the company’s stock worth $7,575,000 after acquiring an additional 45,240 shares during the last quarter.

Allspring Multi-Sector Income Fund Price Performance

ERC remained flat at $8.52 on Wednesday. The company had a trading volume of 107,502 shares, compared to its average volume of 72,357. Allspring Multi-Sector Income Fund has a fifty-two week low of $8.47 and a fifty-two week high of $9.77. The stock’s 50 day moving average price is $9.08 and its two-hundred day moving average price is $9.08.

Allspring Multi-Sector Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be given a $0.0725 dividend. The ex-dividend date is Tuesday, October 13th. This is a negative change from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.0726. This represents a $0.87 dividend on an annualized basis and a dividend yield of 10.2%.

Allspring Multi-Sector Income Fund Company Profile

Allspring Multi-Sector Income Fund is a closed-end investment fund traded on the NYSE American under the symbol ERC. The fund seeks to provide investors with a high level of current income by investing in a diversified portfolio of fixed-income securities across multiple sectors of the global bond market.

Its portfolio may include corporate bonds, high-yield securities, government and sovereign debt, emerging-market debt, bank loans, mortgage-related securities and other income-producing instruments.