Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.22 and traded as high as $12.82. Allspring Utilities and High Income Fund shares last traded at $12.77, with a volume of 14,656 shares.

Allspring Utilities and High Income Fund Trading Down 1.5%

The firm has a fifty day moving average of $12.05 and a 200 day moving average of $12.22.

Allspring Utilities and High Income Fund Increases Dividend

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

Institutional Trading of Allspring Utilities and High Income Fund

A number of hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC raised its position 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 acquiring an additional 8,894 shares during the period. Integrated Wealth Concepts LLC increased its stake 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Allspring Utilities and High Income Fund in the 2nd quarter worth about $25,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Allspring Utilities and High Income Fund by 1.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock worth $1,031,000 after buying an additional 1,178 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new position in Allspring Utilities and High Income Fund during the fourth quarter valued at $469,000.

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.