Wells Fargo Advantage Income Opportunities Fund (NYSEAMERICAN:EAD) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totalling 47,700 shares, an increase of 151.1% from the February 27th total of 19,000 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 294,100 shares, the days-to-cover ratio is currently 0.2 days.
Shares of NYSEAMERICAN EAD traded up $0.29 during trading hours on Thursday, reaching $6.19. The stock had a trading volume of 606,400 shares, compared to its average volume of 456,802. Wells Fargo Advantage Income Opportunities Fund has a fifty-two week low of $4.76 and a fifty-two week high of $8.69.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.0596 per share. This represents a $0.72 dividend on an annualized basis and a yield of 11.55%. This is a boost from Wells Fargo Advantage Income Opportunities Fund’s previous monthly dividend of $0.06. The ex-dividend date is Thursday, March 12th.
About Wells Fargo Advantage Income Opportunities Fund
Wells Fargo Advantage Funds – Wells Fargo Income Opportunities Fund is a closed ended fixed income mutual fund launched and managed by Wells Fargo Funds Management, LLC. It is co-managed by Wells Capital Management Incorporated. The fund invests in the fixed income markets of the United States. It primarily invests in below investment grade debt securities, high-yield debt securities, loans and preferred stocks rated Ba or lower by Moody's Investors Service, Inc or BB or lower by Standard & Poor's Ratings Group.
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