Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Sees Significant Drop in Short Interest

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 7,986 shares, a drop of 18.1% from the February 12th total of 9,754 shares. Based on an average daily trading volume, of 34,690 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 34,690 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Tactive Advisors LLC purchased a new stake in Allspring Utilities and High Income Fund in the second quarter worth $154,000. Stratos Wealth Partners LTD. purchased a new position in shares of Allspring Utilities and High Income Fund during the 4th quarter valued at $469,000. LPL Financial LLC grew its stake in shares of Allspring Utilities and High Income Fund by 51.9% during the 4th quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock worth $308,000 after acquiring an additional 8,894 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Allspring Utilities and High Income Fund by 12.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock worth $143,000 after acquiring an additional 1,272 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Allspring Utilities and High Income Fund in the 2nd quarter worth about $25,000.

Allspring Utilities and High Income Fund Stock Up 0.1%

ERH traded up $0.01 during midday trading on Monday, reaching $12.31. The company had a trading volume of 11,861 shares, compared to its average volume of 28,951. Allspring Utilities and High Income Fund has a 12-month low of $9.98 and a 12-month high of $13.07. The business has a 50-day moving average price of $12.12 and a two-hundred day moving average price of $12.24.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be paid a $0.0851 dividend. The ex-dividend date is Thursday, March 12th. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. This represents a c) annualized dividend and a yield of 8.3%.

About Allspring Utilities and High Income Fund

Allspring Utilities and High Income Fund is a closed-end management investment company listed on the NYSE American under the ticker ERH. Managed by Allspring Global Investments, the fund seeks to provide a high level of current income, with a secondary focus on capital appreciation. It primarily invests in the securities of companies operating in the utilities and energy sectors.

The portfolio is broadly diversified across regulated electric, gas and water utilities as well as non-regulated energy-related firms.