Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.87 and traded as low as $6.55. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund shares last traded at $6.55, with a volume of 134,262 shares trading hands.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Trading Down 1.2%

The firm has a fifty day simple moving average of $6.79 and a 200-day simple moving average of $6.87.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be given a $0.0535 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. PFG Investments LLC lifted its stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 22.0% in the fourth quarter. PFG Investments LLC now owns 69,895 shares of the closed-end fund’s stock valued at $474,000 after buying an additional 12,592 shares during the last quarter. Shaker Financial Services LLC grew its position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 16.4% during the fourth quarter. Shaker Financial Services LLC now owns 586,829 shares of the closed-end fund’s stock worth $4,005,000 after acquiring an additional 82,826 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 90.1% during the fourth quarter. CoreCap Advisors LLC now owns 6,330 shares of the closed-end fund’s stock worth $43,000 after acquiring an additional 3,000 shares during the last quarter. Melfa Wealth Management Inc. acquired a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the 4th quarter valued at $122,000. Finally, Strategic Advocates LLC acquired a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the 3rd quarter valued at $32,000.

About Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

The Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSE American: EAD) is a diversified, closed-end management investment company that seeks current income by investing primarily in a broad array of income-producing debt instruments. Originally launched as part of the Wells Fargo Advantage Funds family, the fund is now managed by Allspring Global Investments. It trades on the NYSE American exchange under the ticker symbol EAD and aims to deliver attractive risk-adjusted returns through a disciplined fixed-income strategy.

The fund’s investment portfolio typically includes corporate bonds spanning investment-grade and high-yield issues, U.S.