Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.49 and traded as low as $9.23. Allspring Multi-Sector Income Fund shares last traded at $9.24, with a volume of 64,558 shares.

Allspring Multi-Sector Income Fund Stock Performance

The company has a 50-day simple moving average of $9.48 and a 200-day simple moving average of $9.42.

Allspring Multi-Sector Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be given a dividend of $0.0722 per share. The ex-dividend date of this dividend is Thursday, December 11th. This is an increase from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. This represents a c) dividend on an annualized basis and a dividend yield of 9.4%.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. increased its stake in Allspring Multi-Sector Income Fund by 84.1% in the 1st quarter. Sit Investment Associates Inc. now owns 2,232,680 shares of the company’s stock valued at $20,585,000 after buying an additional 1,020,228 shares during the period. Guggenheim Capital LLC boosted its stake in Allspring Multi-Sector Income Fund by 94.6% in the second quarter. Guggenheim Capital LLC now owns 334,994 shares of the company’s stock valued at $3,166,000 after acquiring an additional 162,810 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in Allspring Multi-Sector Income Fund by 10.2% during the second quarter. Raymond James Financial Inc. now owns 803,542 shares of the company’s stock worth $7,593,000 after acquiring an additional 74,593 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Allspring Multi-Sector Income Fund by 31.1% in the third quarter. Ameriprise Financial Inc. now owns 253,620 shares of the company’s stock valued at $2,430,000 after purchasing an additional 60,193 shares during the last quarter. Finally, Shaker Financial Services LLC increased its position in Allspring Multi-Sector Income Fund by 16.2% during the third quarter. Shaker Financial Services LLC now owns 366,566 shares of the company’s stock worth $3,540,000 after buying an additional 51,013 shares during the last quarter.

Allspring Multi-Sector Income Fund Company Profile

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.