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

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

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC raised its holdings in Allspring Utilities and High Income Fund by 1.4% in 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 acquiring an additional 1,178 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Allspring Utilities and High Income Fund during the 2nd quarter worth approximately $25,000. LPL Financial LLC grew its holdings in 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 acquiring an additional 8,894 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Allspring Utilities and High Income Fund by 12.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock valued at $143,000 after purchasing an additional 1,272 shares during the last quarter. Finally, CoreCap Advisors LLC increased its position in shares of Allspring Utilities and High Income Fund by 43.7% in the 2nd quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock valued at $40,000 after purchasing an additional 1,000 shares during the last quarter.

Allspring Utilities and High Income Fund Trading Down 0.6%

NYSEAMERICAN:ERH traded down $0.07 during midday trading on Friday, reaching $11.93. The company had a trading volume of 13,926 shares, compared to its average volume of 26,030. Allspring Utilities and High Income Fund has a 12-month low of $11.50 and a 12-month high of $13.07. The stock’s fifty day simple moving average is $11.93 and its 200-day simple moving average is $12.10.

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

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.