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Allspring Closed-End Funds Declare Monthly Distributions
PRNewswire (Fri, 26-Apr 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 May 6, 2024, ERC stock price climbed to $9.17 with 111,115 million shares trading.
ERC has a beta of 0.70, meaning it tends to be less sensitive to market movements. ERC has a correlation of 0.47 to the broad based SPY ETF.
ERC has a market cap of $257.37 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 price return of +9.9% while the SPY ETF gained +27.9%. ERC has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -1.1% and +3.9%, respectively, while the SPY returned +4.5% and +4.0%, respectively.
ERC support price is $9.03 and resistance is $9.15 (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.