Short Interest in Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Increases By 1,499.5%

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 8,781 shares, a growth of 1,499.5% from the June 30th total of 549 shares. Based on an average trading volume of 23,411 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Allspring Utilities and High Income Fund in the 2nd quarter valued at about $25,000. CoreCap Advisors LLC grew its position in Allspring Utilities and High Income Fund by 43.7% during the second quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock valued at $40,000 after purchasing an additional 1,000 shares in the last quarter. Ascentis Independent Advisors acquired a new position in Allspring Utilities and High Income Fund in the 1st quarter valued at approximately $118,000. Integrated Wealth Concepts LLC lifted 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 worth $143,000 after buying an additional 1,272 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Allspring Utilities and High Income Fund by 51.9% in the 4th quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock worth $308,000 after buying an additional 8,894 shares in the last quarter.

Allspring Utilities and High Income Fund Trading Down 0.6%

Allspring Utilities and High Income Fund stock traded down $0.07 during midday trading on Friday, reaching $11.93. The stock had a trading volume of 13,926 shares, compared to its average volume of 26,030. The firm’s fifty day simple moving average is $11.93 and its two-hundred day simple moving average is $12.10. Allspring Utilities and High Income Fund has a twelve month low of $11.50 and a twelve month high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a $0.0876 dividend. This represents a c) annualized dividend and a dividend yield of 8.8%. This is a boost from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Friday, July 10th.

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.