Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Shares Cross Above 200-Day Moving Average – Here’s Why

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.23 and traded as high as $12.34. Allspring Utilities and High Income Fund shares last traded at $12.26, with a volume of 7,484 shares trading hands.

Allspring Utilities and High Income Fund Price Performance

The firm has a 50-day moving average of $12.11 and a 200-day moving average of $12.23.

Allspring Utilities and High Income Fund Increases Dividend

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

Institutional Trading of Allspring Utilities and High Income Fund

Several hedge funds have recently made changes to their positions in the company. Level Four Advisory Services LLC grew its position in Allspring Utilities and High Income Fund by 4.7% in the 2nd quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock valued at $233,000 after acquiring an additional 910 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in shares of Allspring Utilities and High Income Fund by 1.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock worth $1,031,000 after buying an additional 1,178 shares during the period. Integrated Wealth Concepts LLC grew its position in Allspring Utilities and High Income Fund by 12.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock valued at $143,000 after buying an additional 1,272 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Allspring Utilities and High Income Fund in the 2nd quarter valued at approximately $25,000. Finally, CX Institutional acquired a new stake in shares of Allspring Utilities and High Income Fund in the third quarter valued at about $27,000.

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.