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

Allspring Multi-Sector Income Fund (NYSEAMERICAN:ERC – Get Rating) declared a monthly dividend on Friday, May 27th, Wall Street Journal reports. Shareholders of record on Monday, June 13th will be given a dividend of 0.0926 per share on Friday, July 1st. This represents a $1.11 dividend on an annualized basis and a dividend yield of 11.24%. The ex-dividend date is Friday, June 10th.

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

Shares of Allspring Multi-Sector Income Fund stock traded up $0.29 during trading on Friday, hitting $9.88. 90,828 shares of the company’s stock were exchanged, compared to its average volume of 129,683. Allspring Multi-Sector Income Fund has a 52-week low of $9.05 and a 52-week high of $14.07.

Several institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its holdings in shares of Allspring Multi-Sector Income Fund by 1.7% during the first quarter. Invesco Ltd. now owns 509,406 shares of the company’s stock worth $5,303,000 after purchasing an additional 8,758 shares during the last quarter. Morgan Stanley increased its holdings in Allspring Multi-Sector Income Fund by 4.9% in the third quarter. Morgan Stanley now owns 271,270 shares of the company’s stock valued at $3,670,000 after buying an additional 12,689 shares in the last quarter. Rivernorth Capital Management LLC purchased a new position in Allspring Multi-Sector Income Fund in the first quarter valued at $2,668,000. Royal Bank of Canada increased its holdings in Allspring Multi-Sector Income Fund by 36.2% in the first quarter. Royal Bank of Canada now owns 234,655 shares of the company’s stock valued at $2,443,000 after buying an additional 62,402 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Allspring Multi-Sector Income Fund by 4.0% in the fourth quarter. Stifel Financial Corp now owns 185,239 shares of the company’s stock valued at $2,449,000 after buying an additional 7,101 shares in the last quarter.

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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