Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.23 and traded as high as $12.34. Allspring Utilities and High Income Fund shares last traded at $12.26, with a volume of 7,484 shares.

Allspring Utilities and High Income Fund Stock Up 0.1%

The business’s fifty day moving average is $12.10 and its 200-day moving average is $12.23.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be given a $0.0851 dividend. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. The ex-dividend date is Thursday, March 12th. This represents a c) annualized dividend and a yield of 8.3%.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

A number of hedge funds have recently modified their holdings of ERH. Blue Bell Private Wealth Management LLC grew its stake in shares of Allspring Utilities and High Income Fund by 1.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock worth $1,031,000 after purchasing an additional 1,178 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in Allspring Utilities and High Income Fund during the 4th quarter worth $469,000. LPL Financial LLC lifted its holdings in Allspring Utilities and High Income Fund by 51.9% during the 4th quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock worth $308,000 after buying an additional 8,894 shares during the period. Level Four Advisory Services LLC lifted 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 buying an additional 910 shares during the period. Finally, Tactive Advisors LLC bought a new stake in shares of Allspring Utilities and High Income Fund in the 2nd quarter valued at about $154,000.

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.