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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 5,829 shares, a drop of 49.2% from the April 30th total of 11,478 shares. Based on an average daily volume of 31,365 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in ERH. Raymond James Financial Inc. acquired a new position in shares of Allspring Utilities and High Income Fund during the second quarter valued at $25,000. Ascentis Independent Advisors acquired a new position in shares of Allspring Utilities and High Income Fund during the first quarter valued at $118,000. Integrated Wealth Concepts LLC increased its holdings in shares of Allspring Utilities and High Income Fund by 12.4% during the third quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock valued at $143,000 after purchasing an additional 1,272 shares during the period. LPL Financial LLC increased its holdings 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. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Allspring Utilities and High Income Fund during the fourth quarter valued at $469,000.

Allspring Utilities and High Income Fund Stock Performance

Shares of NYSEAMERICAN ERH traded up $0.02 during midday trading on Tuesday, hitting $11.86. The stock had a trading volume of 19,572 shares, compared to its average volume of 26,695. Allspring Utilities and High Income Fund has a 1-year low of $11.22 and a 1-year high of $13.07. The company has a fifty day moving average price of $12.17 and a 200 day moving average price of $12.13.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 11th will be given a $0.0873 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend is Thursday, June 11th. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09.

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.