Wells Fargo Multi-Sector Income Fund (NYSE:ERC) declared a monthly dividend on Monday, October 3rd. Stockholders of record on Monday, October 17th will be given a dividend of 0.0923 per share by the closed-end fund on Tuesday, November 1st. This represents a $1.11 annualized dividend and a dividend yield of 8.54%. The ex-dividend date is Thursday, October 13th.
Wells Fargo Multi-Sector Income Fund (NYSE:ERC) opened at 12.97 on Friday. The stock’s 50 day moving average price is $12.96 and its 200 day moving average price is $12.62. Wells Fargo Multi-Sector Income Fund has a 1-year low of $10.32 and a 1-year high of $13.25.
In other news, major shareholder Saba Capital Management, L.P. purchased 22,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was bought at an average cost of $12.78 per share, with a total value of $282,438.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
About Wells Fargo Multi-Sector Income Fund
Wells Fargo Multi-Sector Income (the Fund), formerly Wells Fargo Advantage Multi-Sector Income Fund, is a diversified closed-end management investment company. The Fund seeks a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. It includes asset classes, such as mortgage/corporate bonds, high-yield bonds, and international/emerging markets bonds.
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