Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.18 and traded as high as $12.50. Allspring Utilities and High Income Fund shares last traded at $12.48, with a volume of 68,167 shares trading hands.

Allspring Utilities and High Income Fund Trading Up 1.3%

The business has a 50-day moving average price of $11.89 and a 200 day moving average price of $12.18.

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 paid a $0.0848 dividend. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend is Thursday, February 12th.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of ERH. Raymond James Financial Inc. purchased a new stake in Allspring Utilities and High Income Fund in the 2nd quarter valued at about $25,000. CX Institutional purchased a new stake in shares of Allspring Utilities and High Income Fund in the third quarter valued at approximately $27,000. Integrated Wealth Concepts LLC boosted its holdings in shares of Allspring Utilities and High Income Fund by 12.4% in the third quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock valued at $143,000 after purchasing an additional 1,272 shares during the period. Tactive Advisors LLC bought a new position in Allspring Utilities and High Income Fund in the second quarter worth approximately $154,000. Finally, Level Four Advisory Services LLC increased its holdings in Allspring Utilities and High Income Fund by 4.7% during the 2nd quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock worth $233,000 after purchasing an additional 910 shares during the period.

Allspring Utilities and High Income Fund Company Profile

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.