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

Posted by Andrew Walz on Dec 27th, 2024

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH – Get Free Report) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 6,000 shares, a growth of 130.8% from the November 30th total of 2,600 shares. Based on an average daily trading volume, of 24,200 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in ERH. Wolverine Asset Management LLC raised its position in Allspring Utilities and High Income Fund by 157.1% in the third quarter. Wolverine Asset Management LLC now owns 82,320 shares of the company’s stock valued at $919,000 after purchasing an additional 50,307 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Allspring Utilities and High Income Fund in the second quarter valued at about $92,000. Finally, Logan Stone Capital LLC purchased a new stake in shares of Allspring Utilities and High Income Fund during the 2nd quarter valued at about $375,000.

Allspring Utilities and High Income Fund Trading Up 0.3 %

Shares of NYSEAMERICAN:ERH opened at $10.75 on Friday. Allspring Utilities and High Income Fund has a 12 month low of $8.73 and a 12 month high of $11.36.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.0741 per share. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.06. This represents a $0.89 annualized dividend and a yield of 8.28%. The ex-dividend date of this dividend is Thursday, December 12th.

About Allspring Utilities and High Income Fund

(Get Free Report)

Allspring Utilities and High Income Fund is a closed-ended balanced mutual fund launched and managed by Wells Fargo Funds Management LLC. It is co-managed by Crow Point Partners, LLC and Wells Capital Management Incorporated. The fund invests in the public equity and fixed income markets of the United States.