Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Update

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 5,829 shares, a decline of 49.2% from the April 30th total of 11,478 shares. Based on an average daily trading volume, of 31,365 shares, the short-interest ratio is presently 0.2 days.

Allspring Utilities and High Income Fund Price Performance

Shares of NYSEAMERICAN ERH traded down $0.17 during trading hours on Monday, hitting $11.84. 40,641 shares of the company’s stock were exchanged, compared to its average volume of 26,764. Allspring Utilities and High Income Fund has a 1-year low of $11.22 and a 1-year high of $13.07. The company’s 50-day moving average price is $12.18 and its 200-day moving average price is $12.14.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be given a dividend of $0.0873 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) annualized dividend and a dividend yield of 8.8%. This is a boost 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

Several large investors have recently made changes to their positions in ERH. Stratos Wealth Partners LTD. acquired a new position in shares of Allspring Utilities and High Income Fund during the 4th quarter worth about $469,000. Ascentis Independent Advisors bought a new position in Allspring Utilities and High Income Fund during the first quarter valued at about $118,000. LPL Financial LLC increased its stake 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 valued at $308,000 after acquiring an additional 8,894 shares during the period. Raymond James Financial Inc. bought a new position in Allspring Utilities and High Income Fund during the second quarter valued at about $25,000. Finally, Integrated Wealth Concepts LLC increased its stake in Allspring Utilities and High Income Fund by 12.4% during the third quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock valued at $143,000 after acquiring 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.