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

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Allspring Multi-Sector Income Fund Stock Up 0.3 %

Allspring Multi-Sector Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be given a $0.0728 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 9.74%. This is an increase from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07.

Institutional Trading of Allspring Multi-Sector Income Fund

Several institutional investors have recently bought and sold shares of ERC. Raymond James & Associates increased its stake in shares of Allspring Multi-Sector Income Fund by 20.3% during the second quarter. Raymond James & Associates now owns 341,266 shares of the company’s stock worth $3,065,000 after purchasing an additional 57,476 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Allspring Multi-Sector Income Fund by 921.0% in the 3rd quarter. International Assets Investment Management LLC now owns 310,411 shares of the company’s stock worth $32,402,000 after buying an additional 280,009 shares during the last quarter. Pathstone Holdings LLC purchased a new stake in Allspring Multi-Sector Income Fund during the 3rd quarter worth approximately $2,942,000. Wolverine Asset Management LLC raised its holdings in shares of Allspring Multi-Sector Income Fund by 47.3% during the third quarter. Wolverine Asset Management LLC now owns 151,583 shares of the company’s stock valued at $1,452,000 after acquiring an additional 48,692 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in shares of Allspring Multi-Sector Income Fund in the third quarter valued at approximately $1,432,000.

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.