Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Sees Significant 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 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.

Institutional Trading of Allspring Utilities and High Income Fund

Several institutional investors have recently made changes to their positions in ERH. Shaker Financial Services LLC increased its stake in Allspring Utilities and High Income Fund by 46.4% in the third quarter. Shaker Financial Services LLC now owns 66,161 shares of the company’s stock valued at $691,000 after acquiring an additional 20,956 shares during the period. Decision Investments Inc. lifted its stake 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 purchasing an additional 4,140 shares during the period. Ascentis Independent Advisors bought a new position in Allspring Utilities and High Income Fund during the first quarter worth about $118,000. Finally, CoreCap Advisors LLC lifted its stake 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 purchasing an additional 1,300 shares during the period.

Allspring Utilities and High Income Fund Stock Down 2.0%

ERH traded down $0.21 during trading on Wednesday, reaching $10.41. 36,649 shares of the company’s stock were exchanged, compared to its average volume of 26,527. The business has a 50 day moving average price of $11.07 and a 200 day moving average price of $11.72. Allspring Utilities and High Income Fund has a fifty-two week low of $10.16 and a fifty-two week high of $13.00.

Allspring Utilities and High Income Fund Cuts Dividend

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

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.