Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $9.42 and traded as low as $9.35. Allspring Multi-Sector Income Fund shares last traded at $9.37, with a volume of 55,219 shares changing hands.

Allspring Multi-Sector Income Fund Stock Down 0.3%

The company has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $9.44.

Allspring Multi-Sector Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 11th will be issued a $0.0722 dividend. This is a boost from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Thursday, December 11th. This represents a c) dividend on an annualized basis and a yield of 9.3%.

Hedge Funds Weigh In On Allspring Multi-Sector Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Guggenheim Capital LLC lifted its position in shares of Allspring Multi-Sector Income Fund by 94.6% in the 2nd quarter. Guggenheim Capital LLC now owns 334,994 shares of the company’s stock worth $3,166,000 after acquiring an additional 162,810 shares during the period. Raymond James Financial Inc. lifted its position in Allspring Multi-Sector Income Fund by 10.2% in 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 during the period. Ameriprise Financial Inc. boosted its stake in Allspring Multi-Sector Income Fund by 31.1% during the third quarter. Ameriprise Financial Inc. now owns 253,620 shares of the company’s stock worth $2,430,000 after buying an additional 60,193 shares in the last quarter. Shaker Financial Services LLC increased its holdings in Allspring Multi-Sector Income Fund by 16.2% in the 3rd quarter. Shaker Financial Services LLC now owns 366,566 shares of the company’s stock valued at $3,540,000 after buying an additional 51,013 shares during the period. Finally, Royal Bank of Canada increased its holdings in Allspring Multi-Sector Income Fund by 9.5% in the 1st quarter. Royal Bank of Canada now owns 555,704 shares of the company’s stock valued at $5,124,000 after buying an additional 47,988 shares during the period.

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.