Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.26 and traded as high as $12.50. Allspring Utilities and High Income Fund shares last traded at $12.44, with a volume of 22,961 shares traded.

Allspring Utilities and High Income Fund Stock Performance

The business’s 50 day simple moving average is $12.30 and its two-hundred day simple moving average is $12.26.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.0856 per share. This is a boost from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Friday, April 10th. This represents a c) annualized dividend and a dividend yield of 8.3%.

Institutional Trading of Allspring Utilities and High Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Allspring Utilities and High Income Fund during the second quarter valued at approximately $25,000. CX Institutional bought a new position in shares of Allspring Utilities and High Income Fund during the third quarter valued at approximately $27,000. Integrated Wealth Concepts LLC boosted its stake in shares of Allspring Utilities and High Income Fund by 12.4% during 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 in the last quarter. LPL Financial LLC boosted its stake in shares of Allspring Utilities and High Income Fund by 51.9% during the fourth quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock valued at $308,000 after purchasing an additional 8,894 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in shares of Allspring Utilities and High Income Fund during the fourth quarter valued at approximately $469,000.

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.