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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 6,138 shares, a drop of 51.0% from the September 15th total of 12,531 shares. Based on an average daily volume of 21,575 shares, the days-to-cover ratio is presently 0.3 days.

Allspring Utilities and High Income Fund Trading Down 2.0%

Shares of Allspring Utilities and High Income Fund stock traded down $0.21 during trading on Wednesday, reaching $10.41. The company’s stock had a trading volume of 36,649 shares, compared to its average volume of 26,527. The business’s fifty day moving average price is $11.07 and its 200-day moving average price is $11.72. Allspring Utilities and High Income Fund has a one year low of $10.16 and a one year high of $13.00.

Allspring Utilities and High Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be paid a dividend of $0.0876 per share. This represents a $1.05 annualized dividend and a yield of 10.1%. The ex-dividend date is Tuesday, October 13th. This is a negative change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.0879.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Several hedge funds have recently modified their holdings of the business. Shaker Financial Services LLC raised its stake in Allspring Utilities and High Income Fund by 46.4% during the 3rd quarter. Shaker Financial Services LLC now owns 66,161 shares of the company’s stock valued at $691,000 after purchasing an additional 20,956 shares during the last quarter. CoreCap Advisors LLC grew its position in Allspring Utilities and High Income Fund by 39.5% during the third quarter. CoreCap Advisors LLC now owns 4,590 shares of the company’s stock worth $48,000 after buying an additional 1,300 shares in the last quarter. Decision Investments Inc. grew its position in Allspring Utilities and High Income Fund by 37.5% during the third quarter. Decision Investments Inc. now owns 15,190 shares of the company’s stock worth $157,000 after buying an additional 4,140 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in Allspring Utilities and High Income Fund during the first quarter worth about $118,000.

About Allspring Utilities and High Income Fund

Allspring Utilities and High Income Fund is a closed-end investment company listed on the NYSE American under the symbol ERH. The fund seeks to provide investors with current income and, to a lesser extent, long-term capital appreciation by investing in a portfolio that combines securities issued by utility companies with higher-yielding income-producing investments.

The fund’s portfolio may include common and preferred stocks of companies in the electric, gas, telecommunications and other utility-related industries, along with corporate bonds and other high-income securities.