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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a large decline in short interest in February. As of February 27th, there was short interest totaling 7,986 shares, a decline of 18.1% from the February 12th total of 9,754 shares. Based on an average trading volume of 34,690 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 34,690 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tactive Advisors LLC bought a new stake in shares of Allspring Utilities and High Income Fund in the 2nd quarter valued at approximately $154,000. Stratos Wealth Partners LTD. bought a new position in Allspring Utilities and High Income Fund during the fourth quarter valued at approximately $469,000. LPL Financial LLC lifted its stake in Allspring Utilities and High Income Fund by 51.9% in the fourth quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock valued at $308,000 after acquiring an additional 8,894 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Allspring Utilities and High Income Fund by 12.4% in the third quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock worth $143,000 after acquiring an additional 1,272 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Allspring Utilities and High Income Fund in the second quarter worth $25,000.

Allspring Utilities and High Income Fund Price Performance

NYSEAMERICAN ERH opened at $12.39 on Wednesday. The company has a 50 day simple moving average of $12.13 and a 200-day simple moving average of $12.24. Allspring Utilities and High Income Fund has a 52-week low of $9.98 and a 52-week high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be paid a $0.0851 dividend. This represents a c) dividend on an annualized basis and a yield of 8.2%. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. The ex-dividend date is Thursday, March 12th.

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.