Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.50 and traded as low as $6.47. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund shares last traded at $6.49, with a volume of 282,688 shares changing hands.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Stock Performance

The business has a 50-day moving average of $6.50 and a 200 day moving average of $6.64.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a dividend of $0.0534 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a c) annualized dividend and a dividend yield of 9.9%.

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

A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. raised its stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 10.8% during the second quarter. Invesco Ltd. now owns 897,364 shares of the closed-end fund’s stock worth $6,335,000 after purchasing an additional 87,577 shares during the period. NewEdge Advisors LLC grew its stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 2.9% during the 2nd quarter. NewEdge Advisors LLC now owns 49,820 shares of the closed-end fund’s stock valued at $352,000 after buying an additional 1,420 shares during the period. Jane Street Group LLC purchased a new stake in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 2nd quarter valued at $116,000. Ameriprise Financial Inc. increased its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 8.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 53,100 shares of the closed-end fund’s stock worth $375,000 after buying an additional 4,076 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 7.6% during the 2nd quarter. Osaic Holdings Inc. now owns 96,475 shares of the closed-end fund’s stock worth $681,000 after buying an additional 6,846 shares during the last quarter.

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.