Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Stock Passes Above 200-Day Moving Average – Here’s Why

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $10.79. Allspring Utilities and High Income Fund shares last traded at $10.79, with a volume of 27,833 shares.

Allspring Utilities and High Income Fund Stock Up 0.4 %

The stock has a 50-day simple moving average of $10.95.

Allspring Utilities and High Income Fund Dividend Announcement

The company also recently announced a — dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a $0.0772 dividend. This represents a yield of 7.1%. The ex-dividend date is Thursday, March 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Level Four Advisory Services LLC boosted its position in shares of Allspring Utilities and High Income Fund by 36.6% during the fourth quarter. Level Four Advisory Services LLC now owns 15,865 shares of the company’s stock worth $170,000 after buying an additional 4,252 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Allspring Utilities and High Income Fund during the fourth quarter worth approximately $110,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Allspring Utilities and High Income Fund by 159.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 70,900 shares of the company’s stock worth $760,000 after buying an additional 43,571 shares during the period. Zimmer Partners LP acquired a new position in shares of Allspring Utilities and High Income Fund during the fourth quarter worth approximately $562,000. Finally, Saba Capital Management L.P. boosted its position in shares of Allspring Utilities and High Income Fund by 36.2% during the fourth quarter. Saba Capital Management L.P. now owns 374,129 shares of the company’s stock worth $4,011,000 after buying an additional 99,408 shares during the period.

About Allspring Utilities and High Income Fund

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.