Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Down 76.1% in July

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

Allspring Utilities and High Income Fund Stock Performance

Shares of ERH stock traded down $0.02 during mid-day trading on Thursday, hitting $11.65. The company’s stock had a trading volume of 18,737 shares, compared to its average volume of 26,011. The company’s fifty day simple moving average is $11.91 and its 200-day simple moving average is $12.10. Allspring Utilities and High Income Fund has a 52 week low of $11.50 and a 52 week high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be issued a $0.0878 dividend. The ex-dividend date is Thursday, August 13th. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. This represents a c) dividend on an annualized basis and a yield of 9.0%.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Ascentis Independent Advisors bought a new position in Allspring Utilities and High Income Fund in the first quarter worth approximately $118,000. LPL Financial LLC increased its holdings in shares of 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Allspring Utilities and High Income Fund during the second quarter valued at approximately $25,000. Integrated Wealth Concepts LLC raised its position in shares of 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 worth $143,000 after purchasing an additional 1,272 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of Allspring Utilities and High Income Fund by 1.4% during 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.

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.