Wells Fargo Multi-Sector Income Fund (ERC) Sees Large Increase in Short Interest

Wells Fargo Multi-Sector Income Fund (NYSEAMERICAN:ERC) saw a significant increase in short interest in the month of December. As of December 29th, there was short interest totalling 53,751 shares, an increase of 319.6% from the December 15th total of 12,809 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 183,705 shares, the days-to-cover ratio is presently 0.3 days.

A number of institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its holdings in Wells Fargo Multi-Sector Income Fund by 43.2% in the second quarter. Advisor Group Inc. now owns 21,166 shares of the company’s stock valued at $283,000 after acquiring an additional 6,388 shares during the period. Nwam LLC raised its stake in shares of Wells Fargo Multi-Sector Income Fund by 2.5% during the 3rd quarter. Nwam LLC now owns 299,563 shares of the company’s stock worth $4,020,000 after buying an additional 7,164 shares during the last quarter. Cohen & Steers Inc. raised its stake in shares of Wells Fargo Multi-Sector Income Fund by 3.4% during the 3rd quarter. Cohen & Steers Inc. now owns 284,969 shares of the company’s stock worth $3,824,000 after buying an additional 9,492 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Wells Fargo Multi-Sector Income Fund during the 3rd quarter worth $142,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Wells Fargo Multi-Sector Income Fund during the 2nd quarter worth $150,000.

Wells Fargo Multi-Sector Income Fund (NYSEAMERICAN ERC) traded up $0.01 during trading on Wednesday, reaching $13.19. The company’s stock had a trading volume of 262,000 shares, compared to its average volume of 653,833. Wells Fargo Multi-Sector Income Fund has a 12 month low of $12.66 and a 12 month high of $13.65.

The firm also recently announced a monthly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 17th will be issued a $0.1078 dividend. The ex-dividend date is Tuesday, January 16th. This represents a $1.29 dividend on an annualized basis and a yield of 9.81%. This is an increase from Wells Fargo Multi-Sector Income Fund’s previous monthly dividend of $0.11.

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Wells Fargo Multi-Sector Income Fund Company Profile

Wells Fargo Multi-Sector Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. The Fund’s portfolio includes agency securities, asset-backed securities, common stocks, corporate bonds and notes, foreign corporate bonds and notes, foreign government bonds, loans, municipal obligations, non-agency mortgage-backed securities and short-term investments.

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