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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 8,781 shares, a growth of 1,499.5% from the June 30th total of 549 shares. Based on an average daily trading volume, of 23,411 shares, the days-to-cover ratio is presently 0.4 days.

Allspring Utilities and High Income Fund Stock Down 0.6%

Allspring Utilities and High Income Fund stock traded down $0.07 during midday trading on Friday, reaching $11.93. The company’s stock had a trading volume of 13,926 shares, compared to its average volume of 26,030. The business has a 50-day simple moving average of $11.93 and a 200-day simple moving average of $12.10. Allspring Utilities and High Income Fund has a fifty-two week low of $11.50 and a fifty-two week high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The firm 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 $0.0876 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Friday, July 10th. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Several institutional investors have recently added to or reduced their stakes in ERH. Raymond James Financial Inc. acquired a new position in Allspring Utilities and High Income Fund in the second quarter valued at approximately $25,000. CoreCap Advisors LLC raised its holdings in Allspring Utilities and High Income Fund by 43.7% during the second quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock worth $40,000 after purchasing an additional 1,000 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in Allspring Utilities and High Income Fund during the first quarter worth approximately $118,000. Integrated Wealth Concepts LLC lifted its position in shares of 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 last quarter. Finally, LPL Financial LLC lifted its position in shares of Allspring Utilities and High Income Fund by 51.9% during the 4th quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock worth $308,000 after buying an additional 8,894 shares during the last quarter.

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.