Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.99 and traded as high as $12.55. Allspring Utilities and High Income Fund shares last traded at $12.54, with a volume of 19,426 shares.

Allspring Utilities and High Income Fund Trading Up 1.5%

The company has a 50 day simple moving average of $12.60 and a 200 day simple moving average of $12.00.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be issued a dividend of $0.0838 per share. The ex-dividend date is Thursday, December 11th. This represents a c) annualized dividend and a dividend yield of 8.0%. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

A number of institutional investors have recently bought and sold shares of ERH. Level Four Advisory Services LLC lifted its stake in Allspring Utilities and High Income Fund by 4.7% during the second quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock worth $233,000 after purchasing an additional 910 shares in the last quarter. Integrated Wealth Concepts LLC increased its position 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 valued at $143,000 after purchasing an additional 1,272 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Allspring Utilities and High Income Fund in the second quarter valued at $25,000. CX Institutional acquired a new stake in shares of Allspring Utilities and High Income Fund during the 3rd quarter worth about $27,000. Finally, 1607 Capital Partners LLC increased its position in Allspring Utilities and High Income Fund by 1.8% during the first quarter. 1607 Capital Partners LLC now owns 366,634 shares of the company’s stock worth $4,040,000 after buying an additional 6,570 shares during the period.

Allspring Utilities and High Income Fund Company Profile

Allspring Utilities and High Income Fund is a closed-ended balanced mutual fund launched and managed by Wells Fargo Funds Management LLC. It is co-managed by Crow Point Partners, LLC and Wells Capital Management Incorporated. The fund invests in the public equity and fixed income markets of the United States.