Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Plans $0.09 Monthly Dividend

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC – Get Rating) declared a monthly dividend on Tuesday, May 3rd, Wall Street Journal reports. Shareholders of record on Friday, May 13th will be given a dividend of 0.0938 per share on Wednesday, June 1st. This represents a $1.13 dividend on an annualized basis and a yield of 11.46%. The ex-dividend date is Thursday, May 12th.

Allspring Multi-Sector Income Fund has decreased its dividend by an average of 4.0% annually over the last three years.

ERC opened at $9.82 on Wednesday. Allspring Multi-Sector Income Fund has a 1 year low of $9.38 and a 1 year high of $14.07.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new stake in shares of Allspring Multi-Sector Income Fund during the 4th quarter worth $145,000. Guggenheim Capital LLC bought a new stake in shares of Allspring Multi-Sector Income Fund during the 4th quarter worth $271,000. LPL Financial LLC raised its stake in shares of Allspring Multi-Sector Income Fund by 4.2% during the 3rd quarter. LPL Financial LLC now owns 32,303 shares of the company’s stock worth $437,000 after purchasing an additional 1,304 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Allspring Multi-Sector Income Fund during the 4th quarter worth $476,000. Finally, Bank of America Corp DE raised its stake in shares of Allspring Multi-Sector Income Fund by 2.4% during the 2nd quarter. Bank of America Corp DE now owns 85,034 shares of the company’s stock worth $1,089,000 after purchasing an additional 1,992 shares during the period.

About Allspring Multi-Sector Income Fund (Get Rating)

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.

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