Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Sees Significant Drop in Short Interest

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 2,095 shares, a decline of 76.1% from the July 15th total of 8,781 shares. Based on an average daily trading volume, of 31,347 shares, the short-interest ratio is presently 0.1 days.

Allspring Utilities and High Income Fund Stock Down 0.1%

Allspring Utilities and High Income Fund stock traded down $0.01 during mid-day trading on Friday, hitting $11.64. 16,339 shares of the company’s stock traded hands, compared to its average volume of 25,948. Allspring Utilities and High Income Fund has a one year low of $11.50 and a one year high of $13.07. The firm has a 50 day moving average price of $11.90 and a 200 day moving average price of $12.10.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.0878 per share. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Thursday, August 13th. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09.

Institutional Trading of Allspring Utilities and High Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC boosted its holdings in shares of Allspring Utilities and High Income Fund by 43.7% in the second quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock valued at $40,000 after acquiring an additional 1,000 shares in the last quarter. Ascentis Independent Advisors bought a new stake in Allspring Utilities and High Income Fund during the first quarter worth approximately $118,000. LPL Financial LLC raised its holdings in Allspring Utilities and High Income Fund by 51.9% during the fourth quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock worth $308,000 after purchasing an additional 8,894 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its position 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 worth $1,031,000 after purchasing an additional 1,178 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in Allspring Utilities and High Income Fund by 12.4% in the third quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock worth $143,000 after purchasing an additional 1,272 shares during the period.

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.