Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.25 and traded as high as $12.33. Allspring Utilities and High Income Fund shares last traded at $12.28, with a volume of 27,488 shares trading hands.

Allspring Utilities and High Income Fund Stock Up 1.7%

The stock’s fifty day simple moving average is $12.34 and its 200 day simple moving average is $12.25.

Allspring Utilities and High Income Fund Increases Dividend

The firm 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 $0.0856 dividend. This represents a c) dividend on an annualized basis and a yield of 8.4%. The ex-dividend date is Friday, April 10th. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09.

Institutional Trading of Allspring Utilities and High Income Fund

A number of hedge funds have recently bought and sold shares of the business. LPL Financial LLC raised its holdings in Allspring Utilities and High Income Fund by 51.9% in the 4th quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock valued at $308,000 after acquiring an additional 8,894 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in Allspring Utilities and High Income Fund by 1.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock valued at $1,031,000 after acquiring an additional 1,178 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Allspring Utilities and High Income Fund in the 4th quarter valued at about $469,000. Integrated Wealth Concepts LLC raised its holdings in Allspring Utilities and High Income Fund by 12.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock valued at $143,000 after acquiring an additional 1,272 shares during the last quarter. Finally, CX Institutional acquired a new stake in Allspring Utilities and High Income Fund in the 3rd quarter valued at about $27,000.

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.