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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a large growth in short interest during 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 daily volume of 23,411 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERH. Blue Bell Private Wealth Management LLC lifted its position in shares of Allspring Utilities and High Income Fund by 1.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock valued at $1,031,000 after acquiring an additional 1,178 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Allspring Utilities and High Income Fund in the fourth quarter worth about $469,000. LPL Financial LLC boosted its stake in shares of Allspring Utilities and High Income Fund by 51.9% during the fourth quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock valued at $308,000 after purchasing an additional 8,894 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of 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 during the period. Finally, Ascentis Independent Advisors purchased a new stake in Allspring Utilities and High Income Fund in the first quarter worth about $118,000.

Allspring Utilities and High Income Fund Price Performance

Shares of ERH traded down $0.07 on Friday, hitting $11.93. 13,926 shares of the stock traded hands, compared to its average volume of 26,030. Allspring Utilities and High Income Fund has a one year low of $11.50 and a one year high of $13.07. The business has a 50 day simple moving average of $11.93 and a 200 day simple moving average of $12.10.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.0876 dividend. 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. This represents a c) dividend on an annualized basis and a yield of 8.8%.

Allspring Utilities and High Income Fund Company Profile

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.