Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Increases Dividend to $0.07 Per Share
by Michael Walen · The Markets DailyAllspring Multi-Sector Income Fund (NYSEAMERICAN:ERC – Get Free Report) announced a monthly dividend on Friday, March 27th. Investors of record on Friday, April 10th will be paid a dividend of 0.0727 per share on Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Friday, April 10th. This is a 0.2% increase from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07.
Allspring Multi-Sector Income Fund Price Performance
Shares of ERC stock traded down $0.11 on Friday, reaching $8.79. 93,625 shares of the company’s stock were exchanged, compared to its average volume of 93,250. The company’s fifty day simple moving average is $9.27 and its 200 day simple moving average is $9.38. Allspring Multi-Sector Income Fund has a 52 week low of $8.44 and a 52 week high of $9.77.
Institutional Investors Weigh In On Allspring Multi-Sector Income Fund
Several large investors have recently added to or reduced their stakes in ERC. World Investment Advisors lifted its position in shares of Allspring Multi-Sector Income Fund by 26.3% in the 4th quarter. World Investment Advisors now owns 17,685 shares of the company’s stock worth $164,000 after purchasing an additional 3,682 shares during the period. Sit Investment Associates Inc. increased its holdings in Allspring Multi-Sector Income Fund by 20.2% during the fourth quarter. Sit Investment Associates Inc. now owns 3,060,969 shares of the company’s stock valued at $28,467,000 after buying an additional 514,147 shares during the period. XTX Topco Ltd purchased a new position in Allspring Multi-Sector Income Fund during the fourth quarter valued at approximately $123,000. Readystate Asset Management LP bought a new position in Allspring Multi-Sector Income Fund in the fourth quarter worth approximately $234,000. Finally, Guggenheim Capital LLC raised its stake in Allspring Multi-Sector Income Fund by 29.0% in the fourth quarter. Guggenheim Capital LLC now owns 711,529 shares of the company’s stock worth $6,617,000 after buying an additional 160,109 shares in the last quarter.
About Allspring Multi-Sector Income Fund
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.