Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Sees Significant Drop in Short Interest

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 18,823 shares, a drop of 46.1% from the July 15th total of 34,937 shares. Based on an average trading volume of 329,953 shares, the days-to-cover ratio is presently 0.1 days.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Stock Performance

EAD traded down $0.03 during midday trading on Tuesday, reaching $6.36. 206,553 shares of the company were exchanged, compared to its average volume of 207,538. The company’s fifty day moving average price is $6.41 and its 200 day moving average price is $6.56. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund has a one year low of $6.24 and a one year high of $7.15.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be given a dividend of $0.0533 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Investors Weigh In On Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

A number of hedge funds have recently modified their holdings of EAD. Landscape Capital Management L.L.C. purchased a new stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the fourth quarter valued at about $160,000. Mariner LLC raised its holdings in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 14.3% during the 4th quarter. Mariner LLC now owns 20,496 shares of the closed-end fund’s stock valued at $139,000 after acquiring an additional 2,568 shares during the period. Marex Group plc purchased a new stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the fourth quarter worth $121,000. Jane Street Group LLC bought a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund in the second quarter worth $116,000. Finally, Sit Investment Associates Inc. boosted its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 23.8% in the fourth quarter. Sit Investment Associates Inc. now owns 1,619,702 shares of the closed-end fund’s stock worth $10,982,000 after acquiring an additional 311,355 shares during the period.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Company Profile

The Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSE American: EAD) is a diversified, closed-end management investment company that seeks current income by investing primarily in a broad array of income-producing debt instruments. Originally launched as part of the Wells Fargo Advantage Funds family, the fund is now managed by Allspring Global Investments. It trades on the NYSE American exchange under the ticker symbol EAD and aims to deliver attractive risk-adjusted returns through a disciplined fixed-income strategy.

The fund’s investment portfolio typically includes corporate bonds spanning investment-grade and high-yield issues, U.S.