Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Update

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 10,138 shares, a growth of 383.9% from the July 30th total of 2,095 shares. Based on an average trading volume of 29,685 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ERH. Raymond James Financial Inc. bought a new stake in Allspring Utilities and High Income Fund during the 2nd quarter worth approximately $25,000. CoreCap Advisors LLC lifted its holdings in shares of Allspring Utilities and High Income Fund by 43.7% during the second quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock worth $40,000 after purchasing an additional 1,000 shares during the period. Ascentis Independent Advisors acquired a new position in shares of Allspring Utilities and High Income Fund during the first quarter worth $118,000. Integrated Wealth Concepts LLC grew its stake in shares of 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 purchasing an additional 1,272 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of 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 worth $308,000 after purchasing an additional 8,894 shares during the last quarter.

Allspring Utilities and High Income Fund Trading Down 0.3%

Shares of NYSEAMERICAN ERH traded down $0.04 during mid-day trading on Thursday, hitting $11.49. 15,535 shares of the stock traded hands, compared to its average volume of 25,889. Allspring Utilities and High Income Fund has a twelve month low of $11.47 and a twelve month high of $13.07. The firm has a 50 day simple moving average of $11.89 and a two-hundred day simple moving average of $12.08.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, September 11th. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%.

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.