Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Down 76.1% in July

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 2,095 shares, a decrease of 76.1% from the July 15th total of 8,781 shares. Based on an average daily trading volume, of 31,347 shares, the days-to-cover ratio is presently 0.1 days.

Allspring Utilities and High Income Fund Price Performance

NYSEAMERICAN:ERH traded down $0.02 during trading hours on Thursday, hitting $11.65. 18,737 shares of the company traded hands, compared to its average volume of 26,011. The firm’s 50-day simple moving average is $11.91 and its 200-day simple moving average is $12.10. Allspring Utilities and High Income Fund has a one year low of $11.50 and a one year high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be issued a $0.0878 dividend. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. This represents a c) annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Thursday, August 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Allspring Utilities and High Income Fund in the 2nd quarter valued at about $25,000. CoreCap Advisors LLC grew its holdings in shares of Allspring Utilities and High Income Fund by 43.7% in the second quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock valued at $40,000 after acquiring an additional 1,000 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Allspring Utilities and High Income Fund during the first quarter valued at approximately $118,000. Integrated Wealth Concepts LLC increased its position in shares of Allspring Utilities and High Income Fund by 12.4% during the third quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock valued at $143,000 after acquiring an additional 1,272 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings 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 worth $308,000 after acquiring an additional 8,894 shares during the period.

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.