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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 6,797 shares, a growth of 46.7% from the December 31st total of 4,632 shares. Based on an average trading volume of 26,032 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 26,032 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Allspring Utilities and High Income Fund during the second quarter valued at approximately $25,000. CX Institutional purchased a new position in Allspring Utilities and High Income Fund during the third quarter valued at $27,000. Integrated Wealth Concepts LLC boosted its holdings 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 valued at $143,000 after buying an additional 1,272 shares in the last quarter. Tactive Advisors LLC bought a new stake in shares of Allspring Utilities and High Income Fund during the 2nd quarter valued at $154,000. Finally, Level Four Advisory Services LLC grew its position in shares of Allspring Utilities and High Income Fund by 4.7% in the 2nd quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock worth $233,000 after buying an additional 910 shares during the period.

Allspring Utilities and High Income Fund Stock Performance

Shares of NYSEAMERICAN ERH opened at $11.80 on Tuesday. The firm has a fifty day simple moving average of $11.88 and a two-hundred day simple moving average of $12.15. Allspring Utilities and High Income Fund has a 12 month low of $9.98 and a 12 month high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 12th will be issued a $0.0848 dividend. This represents a c) annualized dividend and a yield of 8.6%. This is a boost from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. The ex-dividend date is Thursday, February 12th.

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.