Short Interest in Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Rises By 79.9%

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 59,468 shares, an increase of 79.9% from the June 15th total of 33,047 shares. Based on an average daily volume of 46,898 shares, the days-to-cover ratio is presently 1.3 days.

Allspring Multi-Sector Income Fund Stock Performance

ERC opened at $9.21 on Friday. Allspring Multi-Sector Income Fund has a twelve month low of $8.72 and a twelve month high of $9.77. The company has a 50-day moving average price of $9.07 and a 200 day moving average price of $9.18.

Allspring Multi-Sector Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a $0.0728 dividend. This represents a c) annualized dividend and a yield of 9.5%. The ex-dividend date is Friday, July 10th. This is a positive change from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07.

Hedge Funds Weigh In On Allspring Multi-Sector Income Fund

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Allspring Multi-Sector Income Fund by 9.5% in the first quarter. Royal Bank of Canada now owns 555,704 shares of the company’s stock valued at $5,124,000 after acquiring an additional 47,988 shares in the last quarter. Invesco Ltd. increased its position in shares of Allspring Multi-Sector Income Fund by 3.8% during the second quarter. Invesco Ltd. now owns 522,545 shares of the company’s stock worth $4,938,000 after purchasing an additional 19,340 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Allspring Multi-Sector Income Fund by 10.2% during the second quarter. Raymond James Financial Inc. now owns 803,542 shares of the company’s stock worth $7,593,000 after purchasing an additional 74,593 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Allspring Multi-Sector Income Fund by 10.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 193,427 shares of the company’s stock valued at $1,828,000 after purchasing an additional 18,805 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in Allspring Multi-Sector Income Fund by 8.0% in the 2nd quarter. Osaic Holdings Inc. now owns 75,808 shares of the company’s stock valued at $716,000 after purchasing an additional 5,604 shares during the last quarter.

Allspring Multi-Sector Income Fund Company Profile

Allspring Multi-Sector Income Fund (NYSE American: ERC) is a closed-end management investment company that seeks to provide high current income and total return by investing in a diversified portfolio of fixed-income securities. The fund trades on the NYSE American exchange and employs an active, research-driven approach to credit selection across multiple sectors of the debt market.

The fund’s investment strategy spans a broad array of fixed-income instruments, including corporate bonds, bank loans, securitized products such as mortgage- and asset-backed securities, and sovereign debt.