Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Shares Shorted: Short Interest Down 51.0% in September

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 6,138 shares, a decrease of 51.0% from the September 15th total of 12,531 shares. Based on an average daily trading volume, of 21,575 shares, the short-interest ratio is currently 0.3 days.

Allspring Utilities and High Income Fund Stock Down 0.3%

Shares of Allspring Utilities and High Income Fund stock traded down $0.03 on Thursday, reaching $10.38. The stock had a trading volume of 35,427 shares, compared to its average volume of 26,571. Allspring Utilities and High Income Fund has a 1 year low of $10.16 and a 1 year high of $13.00. The company has a 50 day moving average price of $11.04 and a 200 day moving average price of $11.71.

Allspring Utilities and High Income Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be paid a dividend of $0.0876 per share. This represents a $1.05 dividend on an annualized basis and a yield of 10.1%. The ex-dividend date is Tuesday, October 13th. This is a negative change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.0879.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Institutional investors have recently made changes to their positions in the company. CoreCap Advisors LLC raised its stake in 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. Decision Investments Inc. lifted its position in Allspring Utilities and High Income Fund by 37.5% in the third quarter. Decision Investments Inc. now owns 15,190 shares of the company’s stock valued at $157,000 after buying an additional 4,140 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Allspring Utilities and High Income Fund in the 1st quarter valued at $118,000. Finally, Shaker Financial Services LLC lifted its holdings in Allspring Utilities and High Income Fund by 46.4% during the 3rd quarter. Shaker Financial Services LLC now owns 66,161 shares of the company’s stock worth $691,000 after buying an additional 20,956 shares in the last quarter.

Allspring Utilities and High Income Fund Company Profile

Allspring Utilities and High Income Fund is a closed-end investment company listed on the NYSE American under the symbol ERH. The fund seeks to provide investors with current income and, to a lesser extent, long-term capital appreciation by investing in a portfolio that combines securities issued by utility companies with higher-yielding income-producing investments.

The fund’s portfolio may include common and preferred stocks of companies in the electric, gas, telecommunications and other utility-related industries, along with corporate bonds and other high-income securities.