Short Interest in Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Drops By 28.6%

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERHGet Rating) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 4,500 shares, a decline of 28.6% from the June 30th total of 6,300 shares. Based on an average trading volume of 23,500 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bridge Advisory LLC boosted its stake in Allspring Utilities and High Income Fund by 15.1% in the 2nd quarter. Bridge Advisory LLC now owns 233,518 shares of the company’s stock valued at $2,870,000 after purchasing an additional 30,630 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Allspring Utilities and High Income Fund by 27.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,765 shares of the company’s stock valued at $263,000 after purchasing an additional 4,625 shares during the period. Wolverine Asset Management LLC bought a new stake in Allspring Utilities and High Income Fund in the 1st quarter valued at $221,000. Prospera Financial Services Inc bought a new stake in Allspring Utilities and High Income Fund in the 1st quarter valued at $28,000. Finally, Commonwealth Equity Services LLC bought a new stake in Allspring Utilities and High Income Fund in the 4th quarter valued at $580,000.

Allspring Utilities and High Income Fund Trading Up 1.1 %

Shares of NYSEAMERICAN ERH opened at $12.51 on Friday. Allspring Utilities and High Income Fund has a 12 month low of $11.00 and a 12 month high of $15.23.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 1st. Stockholders of record on Tuesday, July 12th will be paid a dividend of $0.0762 per share. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. This represents a $0.91 annualized dividend and a dividend yield of 7.30%. The ex-dividend date of this dividend is Monday, July 11th.

About Allspring Utilities and High Income Fund

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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.

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