Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Sees Large Decline in Short Interest

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 549 shares, a decline of 82.1% from the June 15th total of 3,071 shares. Based on an average daily trading volume, of 15,186 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Several hedge funds have recently modified their holdings of ERH. Raymond James Financial Inc. acquired a new position in shares of Allspring Utilities and High Income Fund in the 2nd quarter valued at $25,000. Integrated Wealth Concepts LLC raised its holdings in Allspring Utilities and High Income Fund by 12.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock worth $143,000 after buying an additional 1,272 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Allspring Utilities and High Income Fund during the fourth quarter valued at about $469,000. Blue Bell Private Wealth Management LLC lifted its stake in Allspring Utilities and High Income Fund by 1.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock valued at $1,031,000 after buying an additional 1,178 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in 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 valued at $308,000 after buying an additional 8,894 shares in the last quarter.

Allspring Utilities and High Income Fund Price Performance

Shares of NYSEAMERICAN ERH traded down $0.02 during trading on Friday, hitting $12.17. The company had a trading volume of 6,970 shares, compared to its average volume of 25,231. Allspring Utilities and High Income Fund has a 52 week low of $11.50 and a 52 week high of $13.07. The business’s 50-day moving average is $11.98 and its 200 day moving average is $12.08.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a dividend of $0.0876 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.6%. 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.

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.