Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Short Interest Up 15.1% in April

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 16,000 shares, a growth of 15.1% from the March 31st total of 13,900 shares. Based on an average daily trading volume, of 70,800 shares, the days-to-cover ratio is currently 0.2 days.

Allspring Multi-Sector Income Fund Stock Performance

Shares of Allspring Multi-Sector Income Fund stock traded up $0.09 during midday trading on Monday, hitting $8.98. The company had a trading volume of 83,655 shares, compared to its average volume of 69,899. Allspring Multi-Sector Income Fund has a 1-year low of $8.51 and a 1-year high of $9.74.

Allspring Multi-Sector Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a $0.0657 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.79 annualized dividend and a yield of 8.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in Allspring Multi-Sector Income Fund by 18.5% in the third quarter. Janney Montgomery Scott LLC now owns 12,817 shares of the company’s stock worth $117,000 after purchasing an additional 2,000 shares during the period. Raymond James Trust N.A. acquired a new stake in Allspring Multi-Sector Income Fund during the fourth quarter valued at approximately $130,000. Custom Index Systems LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 4th quarter valued at approximately $208,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Allspring Multi-Sector Income Fund by 4.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 107,927 shares of the company’s stock worth $1,019,000 after buying an additional 4,109 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Allspring Multi-Sector Income Fund by 4.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 219,144 shares of the company’s stock worth $2,045,000 after buying an additional 10,167 shares during the period.

About Allspring Multi-Sector Income Fund

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.