Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC) Shares Pass Below 50-Day Moving Average – Should You Sell?

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $9.37 and traded as low as $9.36. Allspring Multi-Sector Income Fund shares last traded at $9.42, with a volume of 113,203 shares traded.

Allspring Multi-Sector Income Fund Stock Performance

The stock’s fifty day moving average is $9.37 and its two-hundred day moving average is $9.43.

Allspring Multi-Sector Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 12th will be paid a dividend of $0.0724 per share. This is a positive change from Allspring Multi-Sector Income Fund’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend is Thursday, February 12th.

Institutional Trading of Allspring Multi-Sector Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. World Investment Advisors increased its position in shares of Allspring Multi-Sector Income Fund by 26.3% in the fourth 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 last quarter. Wolverine Asset Management LLC bought a new stake in shares of Allspring Multi-Sector Income Fund during the 4th quarter worth $241,000. Rareview Capital LLC grew its position in Allspring Multi-Sector Income Fund by 9.5% in the fourth quarter. Rareview Capital LLC now owns 151,876 shares of the company’s stock worth $1,435,000 after acquiring an additional 13,225 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Allspring Multi-Sector Income Fund by 31.1% in the third quarter. Ameriprise Financial Inc. now owns 253,620 shares of the company’s stock valued at $2,430,000 after acquiring an additional 60,193 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in Allspring Multi-Sector Income Fund by 1.5% during the third quarter. Raymond James Financial Inc. now owns 815,458 shares of the company’s stock valued at $7,812,000 after purchasing an additional 11,916 shares in the last quarter.

Allspring Multi-Sector Income Fund Company Profile

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.