Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Shares Pass Above 200-Day Moving Average – Should You Sell?

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.83 and traded as high as $11.34. Allspring Utilities and High Income Fund shares last traded at $11.27, with a volume of 17,031 shares.

Allspring Utilities and High Income Fund Price Performance

The stock has a fifty day moving average price of $10.87 and a two-hundred day moving average price of $10.83.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, June 12th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.52%. This is a boost from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. The ex-dividend date of this dividend is Thursday, June 12th.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

A number of institutional investors have recently made changes to their positions in ERH. Saba Capital Management L.P. raised its holdings in shares of Allspring Utilities and High Income Fund by 36.2% in the fourth quarter. Saba Capital Management L.P. now owns 374,129 shares of the company’s stock worth $4,011,000 after acquiring an additional 99,408 shares during the last quarter. Zimmer Partners LP raised its holdings in shares of Allspring Utilities and High Income Fund by 145.5% in the first quarter. Zimmer Partners LP now owns 128,803 shares of the company’s stock worth $1,419,000 after acquiring an additional 76,334 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its stake in Allspring Utilities and High Income Fund by 159.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 70,900 shares of the company’s stock valued at $760,000 after purchasing an additional 43,571 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in Allspring Utilities and High Income Fund in the first quarter valued at $232,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Allspring Utilities and High Income Fund in the fourth quarter valued at $110,000.

Allspring Utilities and High Income Fund Company Profile

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.