Allspring Income Opportunities Fund declares $0.0517 dividend
Seeking Alpha News (Thu, 28-Mar 1:06 PM ET)
Allspring Closed-End Funds Declare Monthly Distributions
PRNewswire (Thu, 28-Mar 8:30 AM ET)
The fund seeks a high level of current income. As a secondary objective, the fund may also seek capital appreciation consistent with its investment objective. The Fund will invest at least 80% of its assets in below investment-grade (high yield) debt securities, loans and preferred stocks, under normal market conditions. These securities are rated Ba or lower by Moody's Investors Service, Inc. or BB or lower by Standard & Poor's Ratings Group, or are unrated securities of comparable quality as determined by the fund's investment advisor.
Allspring Income Opportunities Common Shares trades on the AMEX stock market under the symbol EAD.
As of March 28, 2024, EAD stock price declined to $6.64 with 339,099 million shares trading.
EAD has a beta of 0.71, meaning it tends to be less sensitive to market movements. EAD has a correlation of 0.48 to the broad based SPY ETF.
EAD has a market cap of $394.20 million. This is considered a Small Cap stock.
In the last 3 years, EAD stock traded as high as $9.22 and as low as $5.69.
EAD has underperformed the market in the last year with a price return of +17.6% while the SPY ETF gained +33.6%. EAD has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +4.1% and +0.2%, respectively, while the SPY returned +10.1% and +1.7%, respectively.
EAD support price is $6.64 and resistance is $6.72 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EAD stock will trade within this expected range on the day.