Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.43 and traded as high as $12.68. Allspring Utilities and High Income Fund shares last traded at $12.50, with a volume of 34,048 shares.

Allspring Utilities and High Income Fund Trading Up 0.1%

The stock’s fifty day moving average price is $12.05 and its 200-day moving average price is $11.43.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Tuesday, October 14th will be given a dividend of $0.0829 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Tuesday, October 14th. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tactive Advisors LLC purchased a new position in Allspring Utilities and High Income Fund in the 2nd quarter valued at approximately $154,000. Raymond James Financial Inc. acquired a new position in Allspring Utilities and High Income Fund in the second quarter valued at $25,000. Level Four Advisory Services LLC increased its stake in shares of Allspring Utilities and High Income Fund by 4.7% during the second quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock worth $233,000 after acquiring an additional 910 shares during the period. Zimmer Partners LP increased its holdings in 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 valued at $1,419,000 after buying an additional 76,334 shares in the last quarter. Finally, 1607 Capital Partners LLC boosted its stake in shares of Allspring Utilities and High Income Fund by 1.8% during the 1st quarter. 1607 Capital Partners LLC now owns 366,634 shares of the company’s stock worth $4,040,000 after acquiring an additional 6,570 shares in the last quarter.

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.