Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Sees Significant Drop in Short Interest

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a significant drop in short interest in February. As of February 27th, there was short interest totaling 7,986 shares, a drop of 18.1% from the February 12th total of 9,754 shares. Based on an average daily trading volume, of 34,690 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 34,690 shares, the short-interest ratio is presently 0.2 days.

Allspring Utilities and High Income Fund Trading Up 0.1%

Shares of NYSEAMERICAN:ERH traded up $0.01 during midday trading on Monday, hitting $12.31. 11,861 shares of the company’s stock were exchanged, compared to its average volume of 28,951. Allspring Utilities and High Income Fund has a 12 month low of $9.98 and a 12 month high of $13.07. The stock has a 50 day moving average price of $12.12 and a 200-day moving average price of $12.24.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.0851 per share. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. The ex-dividend date is Thursday, March 12th. This represents a c) dividend on an annualized basis and a yield of 8.3%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ERH. Level Four Advisory Services LLC boosted its position in shares of Allspring Utilities and High Income Fund by 4.7% during the second quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock valued at $233,000 after buying an additional 910 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in Allspring Utilities and High Income Fund by 1.4% in 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 buying an additional 1,178 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake 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 valued at $143,000 after acquiring an additional 1,272 shares in the last quarter. Raymond James Financial Inc. bought a new position in Allspring Utilities and High Income Fund during the 2nd quarter valued at $25,000. Finally, CX Institutional purchased a new position in Allspring Utilities and High Income Fund during the 3rd quarter worth $27,000.

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.