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 significant drop in short interest during the month of 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 days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of ERH. Raymond James Financial Inc. bought a new stake in shares of Allspring Utilities and High Income Fund during the second quarter valued at about $25,000. CoreCap Advisors LLC increased its stake in Allspring Utilities and High Income Fund by 43.7% during the 2nd quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock valued at $40,000 after buying an additional 1,000 shares during the period. Ascentis Independent Advisors acquired a new position in Allspring Utilities and High Income Fund during the 1st quarter valued at about $118,000. Integrated Wealth Concepts LLC raised its position in shares of 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 worth $143,000 after buying an additional 1,272 shares in the last quarter. Finally, 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 buying an additional 8,894 shares in the last quarter.

Allspring Utilities and High Income Fund Stock Down 0.2%

ERH stock traded down $0.02 during trading on Friday, hitting $12.17. 6,970 shares of the company’s stock traded hands, compared to its average volume of 25,231. Allspring Utilities and High Income Fund has a 52 week low of $11.50 and a 52 week high of $13.07. The stock has a fifty day moving average price of $11.98 and a two-hundred day moving average price 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 dividend of $0.0876 per share. This represents a c) annualized dividend and a yield of 8.6%. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. The ex-dividend date is Friday, July 10th.

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.