Wells Fargo Multi-Sector Income Fund (ERC) Receives News Sentiment Rating of 0.70
Media stories about Wells Fargo Multi-Sector Income Fund (NYSE:ERC) have trended very positive on Thursday, according to Alpha One Sentiment Analysis. The research firm, a unit of Accern, scores the sentiment of news coverage by reviewing more than twenty million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Wells Fargo Multi-Sector Income Fund earned a news sentiment score of 0.70 on Alpha One’s scale. Alpha One also gave news stories about the closed-end fund an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an impact on the stock’s share price in the immediate future.
Wells Fargo Multi-Sector Income Fund (NYSE:ERC) opened at 13.53 on Thursday. The stock has a 50 day moving average price of $13.47 and a 200-day moving average price of $13.14. Wells Fargo Multi-Sector Income Fund has a one year low of $11.79 and a one year high of $13.62.
The business also recently disclosed a monthly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Wednesday, June 14th will be given a dividend of $0.1063 per share. The ex-dividend date of this dividend is Monday, June 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 9.43%. This is a positive change from Wells Fargo Multi-Sector Income Fund’s previous monthly dividend of $0.11.
In other news, major shareholder Saba Capital Management, L.P. sold 2,008,974 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $14.15, for a total transaction of $28,426,982.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 2,444,879 shares of company stock worth $34,309,956 in the last ninety days.
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Wells Fargo Multi-Sector Income Fund Company Profile
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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