Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Update

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 6,336 shares, a decline of 20.7% from the February 26th total of 7,986 shares. Based on an average trading volume of 23,444 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC grew its stake in Allspring Utilities and High Income Fund by 51.9% in 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 during the period. Integrated Wealth Concepts LLC raised its holdings in 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 acquiring an additional 1,272 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Allspring Utilities and High Income Fund during the 2nd quarter worth $25,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of Allspring Utilities and High Income Fund by 1.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock worth $1,031,000 after purchasing an additional 1,178 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Allspring Utilities and High Income Fund during the fourth quarter worth $469,000.

Allspring Utilities and High Income Fund Stock Up 1.5%

Shares of ERH traded up $0.18 during trading hours on Tuesday, reaching $12.10. 37,676 shares of the company traded hands, compared to its average volume of 27,654. The stock has a fifty day simple moving average of $12.16 and a 200 day simple moving average of $12.23. Allspring Utilities and High Income Fund has a fifty-two week low of $9.98 and a fifty-two week high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.0856 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%. This is a boost from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. The ex-dividend date is Friday, April 10th.

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.