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Allspring Closed-End Funds Declare Monthly Distributions
PRNewswire (Thu, 28-Mar 8:30 AM ET)
PRNewswire (Thu, 22-Feb 4:30 PM ET)
Allspring Announces Change to Multi-Sector Income Fund Portfolio Management Team
PRNewswire (Wed, 21-Feb 8:30 AM ET)
The fund seeks to provide a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. The fund invests in a mix of non-investment-grade corporate debt securities, including floating rate high yield bank loan securities, foreign and emerging market debt securities, adjustable and
Allspring Multi-Sector Income trades on the AMEX stock market under the symbol ERC.
As of April 19, 2024, ERC stock price was flat at $8.83 with 63,828 million shares trading.
ERC has a beta of 0.73, meaning it tends to be less sensitive to market movements. ERC has a correlation of 0.48 to the broad based SPY ETF.
ERC has a market cap of $247.83 million. This is considered a Small Cap stock.
In the last 3 years, ERC stock traded as high as $14.07 and as low as $8.27.
ERC has underperformed the market in the last year with a return of +5.4%, while the SPY ETF gained +21.2%. In the last 3 month period, ERC fell short of the market, returning -2.8%, while SPY returned +3.0%. However, in the most recent 2 weeks ERC has outperformed the stock market by returning -3.6%, while SPY returned -4.5%.
ERC support price is $8.77 and resistance is $8.89 (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 ERC stock will trade within this expected range on the day.