Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.09 and traded as high as $12.22. Allspring Utilities and High Income Fund shares last traded at $12.09, with a volume of 13,594 shares trading hands.

Allspring Utilities and High Income Fund Price Performance

The firm has a fifty day moving average of $11.94 and a 200-day moving average of $12.09.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.0876 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. The ex-dividend date is Friday, July 10th.

Institutional Trading of Allspring Utilities and High Income Fund

Several large investors have recently bought and sold shares of ERH. Raymond James Financial Inc. purchased a new stake in shares of Allspring Utilities and High Income Fund during the second quarter valued at approximately $25,000. Integrated Wealth Concepts LLC lifted 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 worth $143,000 after buying an additional 1,272 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Allspring Utilities and High Income Fund in the 4th quarter valued at about $469,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Allspring Utilities and High Income Fund by 1.4% during the fourth 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 in the last quarter. Finally, LPL Financial LLC increased its position 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 worth $308,000 after acquiring an additional 8,894 shares during the last quarter.

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.