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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.23 and traded as high as $12.60. Allspring Utilities and High Income Fund shares last traded at $12.53, with a volume of 17,100 shares changing hands.

Allspring Utilities and High Income Fund Price Performance

The firm’s fifty day simple moving average is $12.36 and its 200 day simple moving average is $12.23.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a dividend of $0.0864 per share. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Monday, May 11th. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Hedge funds have recently modified their holdings of the company. LPL Financial LLC boosted its stake 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 acquiring an additional 8,894 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Allspring Utilities and High Income Fund during the 1st quarter worth about $118,000. Blue Bell Private Wealth Management LLC boosted its stake in shares of Allspring Utilities and High Income Fund by 1.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock worth $1,031,000 after acquiring an additional 1,178 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake 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 acquiring an additional 1,272 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Allspring Utilities and High Income Fund during the 2nd quarter worth about $25,000.

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.