Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) crossed 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 trading hands.

Allspring Multi-Sector Income Fund Price Performance

Allspring Multi-Sector Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be given a $0.0728 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 9.69%. The ex-dividend date is Thursday, December 12th. This is a positive change from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07.

Institutional Investors Weigh In On Allspring Multi-Sector Income Fund

A number of large investors have recently made changes to their positions in the company. Choreo LLC increased its position in Allspring Multi-Sector Income Fund by 6.8% during the second quarter. Choreo LLC now owns 22,899 shares of the company’s stock worth $206,000 after acquiring an additional 1,466 shares during the period. International Assets Investment Management LLC increased its position in shares of Allspring Multi-Sector Income Fund by 8.0% during the 2nd quarter. International Assets Investment Management LLC now owns 30,402 shares of the company’s stock worth $273,000 after purchasing an additional 2,250 shares in the last quarter. Fiera Capital Corp raised its stake in shares of Allspring Multi-Sector Income Fund by 2.9% in the third quarter. Fiera Capital Corp now owns 114,029 shares of the company’s stock valued at $1,092,000 after acquiring an additional 3,193 shares during the last quarter. Moors & Cabot Inc. increased its stake in shares of Allspring Multi-Sector Income Fund by 31.4% in the third quarter. Moors & Cabot Inc. now owns 18,000 shares of the company’s stock valued at $172,000 after buying an additional 4,300 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Allspring Multi-Sector Income Fund by 672.3% during the third quarter. Avior Wealth Management LLC now owns 6,441 shares of the company’s stock worth $62,000 after purchasing an additional 5,607 shares in the last quarter.

Allspring Multi-Sector Income Fund Company Profile

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.