Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Down 64.8% in June

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 3,071 shares, a drop of 64.8% from the May 31st total of 8,718 shares. Based on an average daily volume of 22,683 shares, the days-to-cover ratio is currently 0.1 days.

Allspring Utilities and High Income Fund Stock Up 0.2%

ERH stock traded up $0.02 during trading on Tuesday, reaching $12.10. The company had a trading volume of 39,879 shares, compared to its average volume of 25,335. Allspring Utilities and High Income Fund has a twelve month low of $11.46 and a twelve month high of $13.07. The firm has a 50-day simple moving average of $12.02 and a 200-day simple moving average of $12.05.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.0876 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%. This is a boost from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Friday, July 10th.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC grew its stake in 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 valued at $1,031,000 after purchasing an additional 1,178 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Allspring Utilities and High Income Fund during the fourth quarter worth about $469,000. LPL Financial LLC lifted its holdings in shares of Allspring Utilities and High Income Fund by 51.9% during 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 period. Integrated Wealth Concepts LLC boosted 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 valued at $143,000 after buying an additional 1,272 shares during the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in Allspring Utilities and High Income Fund in the first quarter valued at approximately $118,000.

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.