Short Interest in Wells Fargo Multi-Sector Income Fund (ERC) Decreases By 56.1%

Wells Fargo Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 64,955 shares, a drop of 56.1% from the February 15th total of 147,941 shares. Based on an average daily volume of 206,799 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are short sold.

Shares of ERC stock traded up $0.08 on Monday, hitting $13.05. The stock had a trading volume of 101,300 shares, compared to its average volume of 219,944. Wells Fargo Multi-Sector Income Fund has a one year low of $12.66 and a one year high of $13.65.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 16th will be issued a $0.108 dividend. The ex-dividend date of this dividend is Friday, April 13th. This represents a $1.30 annualized dividend and a dividend yield of 9.93%.

In related news, Director Ronald W. Stewart sold 150,000 shares of Wells Fargo Multi-Sector Income Fund stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $0.20, for a total value of $30,000.00. Over the last quarter, insiders have bought 119,500 shares of company stock valued at $17,120.

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Wells Fargo Multi-Sector Income Fund in the fourth quarter valued at about $120,000. First Trust Advisors LP bought a new stake in shares of Wells Fargo Multi-Sector Income Fund in the third quarter valued at about $142,000. Citadel Advisors LLC bought a new stake in shares of Wells Fargo Multi-Sector Income Fund in the fourth quarter valued at about $141,000. Advisor Group Inc. raised its holdings in shares of Wells Fargo Multi-Sector Income Fund by 27.9% in the fourth quarter. Advisor Group Inc. now owns 30,277 shares of the company’s stock valued at $396,000 after acquiring an additional 6,596 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Wells Fargo Multi-Sector Income Fund by 23.4% in the fourth quarter. LPL Financial LLC now owns 30,582 shares of the company’s stock valued at $399,000 after acquiring an additional 5,808 shares in the last quarter.

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About Wells Fargo Multi-Sector Income Fund

Wells Fargo Multi-Sector Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. The Fund’s portfolio includes agency securities, asset-backed securities, common stocks, corporate bonds and notes, foreign corporate bonds and notes, foreign government bonds, loans, municipal obligations, non-agency mortgage-backed securities and short-term investments.

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