Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund (NYSEAMERICAN:EAD) Short Interest Update

Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund (NYSEAMERICAN:EAD) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 26,400 shares, a decrease of 28.5% from the June 15th total of 36,900 shares. Based on an average daily volume of 152,700 shares, the days-to-cover ratio is presently 0.2 days.

EAD stock opened at $8.67 on Thursday. Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund has a 52 week low of $7.08 and a 52 week high of $8.93.

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Tuesday, July 13th will be issued a dividend of $0.0584 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 8.08%. This is an increase from Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund’s previous monthly dividend of $0.06. The ex-dividend date is Monday, July 12th.

Several hedge funds have recently added to or reduced their stakes in the company. Fiera Capital Corp grew its stake in shares of Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund by 85.8% during the first quarter. Fiera Capital Corp now owns 51,121 shares of the closed-end fund’s stock valued at $431,000 after acquiring an additional 23,613 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund by 74.4% during the first quarter. Envestnet Asset Management Inc. now owns 170,049 shares of the closed-end fund’s stock worth $1,435,000 after purchasing an additional 72,519 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 132,674 shares of the closed-end fund’s stock worth $1,120,000 after purchasing an additional 8,592 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund during the first quarter worth about $288,000. Finally, Sheaff Brock Investment Advisors LLC lifted its position in shares of Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund by 3.2% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 39,314 shares of the closed-end fund’s stock worth $332,000 after purchasing an additional 1,225 shares during the last quarter.

Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund Company Profile

Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund is a closed ended fixed income mutual fund launched and managed by Wells Fargo Funds Management, LLC. It is co-managed by Wells Capital Management Incorporated. The fund invests in the fixed income markets of the United States. It primarily invests in below investment grade debt securities, high-yield debt securities, loans and preferred stocks rated Ba or lower by Moody's Investors Service, Inc or BB or lower by Standard & Poor's Ratings Group.

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