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

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the recipient of a large increase in short interest during 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ERC. Logan Stone Capital LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 2nd quarter valued at $113,000. Calamos Advisors LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 2nd quarter valued at $130,000. Choreo LLC bought a new stake in shares of Allspring Multi-Sector Income Fund in the 1st quarter valued at $200,000. International Assets Investment Management LLC increased its stake in shares of 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 valued at $273,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its stake in shares of 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 acquiring an additional 57,740 shares in the last quarter.

Allspring Multi-Sector Income Fund Stock Performance

Allspring Multi-Sector Income Fund stock traded up $0.03 during mid-day trading on Friday, hitting $9.31. 71,240 shares of the stock were exchanged, compared to its average volume of 80,891. Allspring Multi-Sector Income Fund has a 12 month low of $8.51 and a 12 month high of $9.60.

Allspring Multi-Sector Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 yield of 8.49%.

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.