Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Update

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 6,797 shares, an increase of 46.7% from the December 31st total of 4,632 shares. Based on an average daily trading volume, of 26,032 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 26,032 shares, the short-interest ratio is currently 0.3 days.

Allspring Utilities and High Income Fund Price Performance

Shares of ERH opened at $11.84 on Friday. Allspring Utilities and High Income Fund has a 1-year low of $9.98 and a 1-year high of $13.07. The firm has a fifty day moving average price of $11.88 and a 200 day moving average price of $12.15.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 12th will be issued a $0.0848 dividend. This represents a c) annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Thursday, February 12th. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ERH. Level Four Advisory Services LLC lifted its stake in Allspring Utilities and High Income Fund by 4.7% in the second quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock valued at $233,000 after buying an additional 910 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Allspring Utilities and High Income Fund in the 2nd quarter valued at $25,000. Tactive Advisors LLC purchased a new stake in Allspring Utilities and High Income Fund in the 2nd quarter valued at $154,000. CX Institutional purchased a new stake in Allspring Utilities and High Income Fund in the 3rd quarter valued at $27,000. Finally, Integrated Wealth Concepts LLC boosted its stake in 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 purchasing an additional 1,272 shares during the period.

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.