Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.00 and traded as high as $8.98. Allspring Multi-Sector Income Fund shares last traded at $8.97, with a volume of 60,174 shares traded.

Allspring Multi-Sector Income Fund Stock Performance

Allspring Multi-Sector Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.0728 per share. This represents a $0.87 annualized dividend and a yield of 9.69%. This is a boost from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. The ex-dividend date is Thursday, December 12th.

Institutional Trading of Allspring Multi-Sector Income Fund

Institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. acquired a new stake in shares of Allspring Multi-Sector Income Fund during the 3rd quarter worth approximately $1,432,000. Encompass More Asset Management acquired a new stake in Allspring Multi-Sector Income Fund during the 3rd quarter worth approximately $127,000. Moors & Cabot Inc. boosted its holdings in Allspring Multi-Sector Income Fund by 31.4% in the third quarter. Moors & Cabot Inc. now owns 18,000 shares of the company’s stock valued at $172,000 after purchasing an additional 4,300 shares during the period. Avior Wealth Management LLC raised its holdings in Allspring Multi-Sector Income Fund by 672.3% in the third quarter. Avior Wealth Management LLC now owns 6,441 shares of the company’s stock valued at $62,000 after acquiring an additional 5,607 shares in the last quarter. Finally, Pathstone Holdings LLC acquired a new position in shares of Allspring Multi-Sector Income Fund during the third quarter worth $2,942,000.

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.