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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.80 and traded as high as $11.37. Allspring Utilities and High Income Fund shares last traded at $11.28, with a volume of 16,784 shares traded.

Allspring Utilities and High Income Fund Stock Up 1.3%

The company’s fifty day simple moving average is $10.83 and its two-hundred day simple moving average is $10.80.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, June 12th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.51%. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. The ex-dividend date is Thursday, June 12th.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Allspring Utilities and High Income Fund during the fourth quarter worth $110,000. Level Four Advisory Services LLC increased its stake in Allspring Utilities and High Income Fund by 36.6% in the 4th quarter. Level Four Advisory Services LLC now owns 15,865 shares of the company’s stock valued at $170,000 after buying an additional 4,252 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in Allspring Utilities and High Income Fund in the 1st quarter valued at $232,000. Zimmer Partners LP acquired a new stake in Allspring Utilities and High Income Fund in the 4th quarter valued at $562,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in Allspring Utilities and High Income Fund by 159.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 70,900 shares of the company’s stock valued at $760,000 after buying an additional 43,571 shares during the last quarter.

About Allspring Utilities and High Income Fund

Allspring Utilities and High Income Fund is a closed-ended balanced mutual fund launched and managed by Wells Fargo Funds Management LLC. It is co-managed by Crow Point Partners, LLC and Wells Capital Management Incorporated. The fund invests in the public equity and fixed income markets of the United States.