Wells Fargo Multi-Sector Income Fund (ERC) Earning Somewhat Favorable Media Coverage, Report Finds

Headlines about Wells Fargo Multi-Sector Income Fund (NYSE:ERC) have been trending somewhat positive on Friday, according to AlphaOne Sentiment Analysis. The research group, a division of Accern, identifies negative and positive news coverage by reviewing more than twenty million blog and news sources in real-time. AlphaOne ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Wells Fargo Multi-Sector Income Fund earned a media sentiment score of 0.03 on AlphaOne’s scale. AlphaOne also gave headlines about the closed-end fund an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an effect on the company’s share price in the next several days.

Insider Buying and Selling by Quarter for Wells Fargo Multi-Sector Income Fund (NYSE:ERC)

Shares of Wells Fargo Multi-Sector Income Fund (NYSE:ERC) traded up 0.07% during midday trading on Friday, reaching $13.46. The company had a trading volume of 178,169 shares. The firm has a market cap of $554.05 million and a P/E ratio of 9.41. The company’s 50-day moving average is $13.47 and its 200-day moving average is $13.18. Wells Fargo Multi-Sector Income Fund has a 52-week low of $11.79 and a 52-week high of $13.62.

The firm also recently announced a monthly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Wednesday, June 14th will be paid a $0.1063 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 9.48%. This is a boost from Wells Fargo Multi-Sector Income Fund’s previous monthly dividend of $0.11. The ex-dividend date of this dividend is Monday, June 12th.

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In other Wells Fargo Multi-Sector Income Fund news, major shareholder Saba Capital Management, L.P. sold 2,008,974 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $14.15, for a total value of $28,426,982.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 2,474,930 shares of company stock valued at $34,715,379.

About Wells Fargo Multi-Sector Income Fund

Wells Fargo Multi-Sector Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. The Fund’s portfolio includes agency securities, asset-backed securities, common stocks, corporate bonds and notes, foreign corporate bonds and notes, foreign government bonds, loans, municipal obligations, non-agency mortgage-backed securities and short-term investments.

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