Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Short Interest Up 225.8% in August

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 21,500 shares, an increase of 225.8% from the August 15th total of 6,600 shares. Based on an average daily volume of 89,500 shares, the days-to-cover ratio is presently 0.2 days.

Allspring Multi-Sector Income Fund Stock Performance

Shares of Allspring Multi-Sector Income Fund stock remained flat at $9.35 during trading hours on Thursday. The stock had a trading volume of 90,656 shares, compared to its average volume of 80,946. Allspring Multi-Sector Income Fund has a 52 week low of $8.51 and a 52 week high of $9.60.

Allspring Multi-Sector Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.0659 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.79 annualized dividend and a dividend yield of 8.46%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ERC. Logan Stone Capital LLC acquired a new stake in Allspring Multi-Sector Income Fund in the second quarter valued at approximately $113,000. Calamos Advisors LLC purchased a new stake in Allspring Multi-Sector Income Fund during the 2nd quarter worth $130,000. Choreo LLC purchased a new stake in Allspring Multi-Sector Income Fund during the 1st quarter worth $200,000. International Assets Investment Management LLC lifted its holdings in Allspring Multi-Sector Income Fund by 8.0% in the 2nd quarter. International Assets Investment Management LLC now owns 30,402 shares of the company’s stock worth $273,000 after buying an additional 2,250 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its position in Allspring Multi-Sector Income Fund by 127.9% in the 2nd quarter. Wolverine Asset Management LLC now owns 102,891 shares of the company’s stock valued at $924,000 after buying an additional 57,740 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.