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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totaling 549 shares, a drop of 82.1% from the June 15th total of 3,071 shares. Based on an average daily volume of 15,186 shares, the short-interest ratio is currently 0.0 days.

Allspring Utilities and High Income Fund Trading Down 0.7%

Shares of ERH stock traded down $0.08 during mid-day trading on Monday, reaching $12.09. The stock had a trading volume of 14,445 shares, compared to its average volume of 25,148. Allspring Utilities and High Income Fund has a 12-month low of $11.50 and a 12-month high of $13.07. The business has a 50-day simple moving average of $11.97 and a 200 day simple moving average of $12.08.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.0876 dividend. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Friday, July 10th. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERH. Stratos Wealth Partners LTD. purchased a new stake in shares of Allspring Utilities and High Income Fund in the fourth quarter valued at about $469,000. Ascentis Independent Advisors purchased a new position in shares of Allspring Utilities and High Income Fund during the 1st quarter worth approximately $118,000. LPL Financial LLC raised 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 purchasing an additional 8,894 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Allspring Utilities and High Income Fund during the 2nd quarter worth approximately $25,000. Finally, Integrated Wealth Concepts LLC lifted its stake 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 buying an additional 1,272 shares in the last quarter.

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.