Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.00 and traded as high as $9.37. Allspring Multi-Sector Income Fund shares last traded at $9.37, with a volume of 101,608 shares trading hands.

Allspring Multi-Sector Income Fund Stock Up 0.3 %

Allspring Multi-Sector Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th will be given a dividend of $0.0728 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.87 annualized dividend and a yield of 9.33%.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERC. VSM Wealth Advisory LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 4th quarter valued at about $52,000. Avior Wealth Management LLC raised its holdings in shares of Allspring Multi-Sector Income Fund by 672.3% in the 3rd quarter. Avior Wealth Management LLC now owns 6,441 shares of the company’s stock valued at $62,000 after purchasing an additional 5,607 shares during the period. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 4th quarter valued at about $101,000. Heritage Wealth Management Inc. bought a new stake in shares of Allspring Multi-Sector Income Fund in the 3rd quarter valued at about $108,000. Finally, Citadel Advisors LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 4th quarter valued at about $107,000.

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.