Short Interest in Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Drops By 19.3%

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 4,632 shares, a decline of 19.3% from the December 15th total of 5,743 shares. Based on an average daily volume of 22,134 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 22,134 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC grew its holdings in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Allspring Utilities and High Income Fund in the second quarter worth $25,000. CX Institutional acquired a new position in shares of Allspring Utilities and High Income Fund in the third quarter worth $27,000. Tactive Advisors LLC purchased a new stake in shares of Allspring Utilities and High Income Fund in the second quarter valued at $154,000. Finally, Level Four Advisory Services LLC boosted its stake in shares of Allspring Utilities and High Income Fund by 4.7% during the second quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock valued at $233,000 after acquiring an additional 910 shares during the last quarter.

Allspring Utilities and High Income Fund Trading Down 0.5%

Shares of ERH stock traded down $0.06 during mid-day trading on Monday, reaching $11.82. The stock had a trading volume of 20,405 shares, compared to its average volume of 25,491. The business has a 50-day simple moving average of $12.04 and a 200 day simple moving average of $12.14. 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 firm also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a $0.0843 dividend. This is a boost from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. This represents a c) annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Monday, January 12th.

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.