Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) Stock Passes Above 50-Day Moving Average – Time to Sell?

Shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund (NYSEAMERICAN:EAD) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.82 and traded as high as $6.85. Wells Fargo Advantage Funds – Allspring Income Opportunities Fund shares last traded at $6.83, with a volume of 203,375 shares trading hands.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Price Performance

The stock’s 50-day moving average price is $6.82 and its 200-day moving average price is $6.93.

Wells Fargo Advantage Funds – Allspring Income Opportunities Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a $0.0535 dividend. This represents a c) dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Monday, January 12th.

Institutional Trading of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund

Several hedge funds have recently made changes to their positions in the stock. Strategic Advocates LLC acquired a new position in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the 3rd quarter valued at approximately $32,000. CoreCap Advisors LLC lifted its stake in Wells Fargo Advantage Funds – Allspring Income Opportunities Fund by 90.1% in the fourth quarter. CoreCap Advisors LLC now owns 6,330 shares of the closed-end fund’s stock valued at $43,000 after buying an additional 3,000 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the third quarter valued at $67,000. Oppenheimer & Co. Inc. acquired a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the third quarter valued at $101,000. Finally, Allworth Financial LP bought a new position in shares of Wells Fargo Advantage Funds – Allspring Income Opportunities Fund during the second quarter worth about $116,000.

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.