Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Sees Large Decline in Short Interest

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 6,336 shares, a decrease of 20.7% from the February 26th total of 7,986 shares. Based on an average daily volume of 23,444 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC boosted its holdings in 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 acquiring an additional 1,178 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Allspring Utilities and High Income Fund during the fourth quarter valued at $469,000. LPL Financial LLC raised its position in shares of 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 worth $308,000 after purchasing an additional 8,894 shares during the last quarter. Level Four Advisory Services LLC raised its position in shares of Allspring Utilities and High Income Fund by 4.7% in 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 last quarter. Finally, Tactive Advisors LLC bought a new position in Allspring Utilities and High Income Fund in the 2nd quarter worth about $154,000.

Allspring Utilities and High Income Fund Stock Performance

Shares of NYSEAMERICAN ERH opened at $11.81 on Friday. Allspring Utilities and High Income Fund has a 52 week low of $9.98 and a 52 week high of $13.07. The business has a 50-day simple moving average of $12.15 and a two-hundred day simple moving average of $12.23.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a $0.0856 dividend. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Friday, April 10th. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09.

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.