Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Update

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 3,071 shares, a drop of 64.8% from the May 31st total of 8,718 shares. Based on an average daily trading volume, of 22,683 shares, the short-interest ratio is currently 0.1 days.

Allspring Utilities and High Income Fund Trading Down 0.2%

ERH stock traded down $0.03 during midday trading on Monday, reaching $12.08. 11,298 shares of the stock were exchanged, compared to its average volume of 25,216. The company has a fifty day moving average price of $12.02 and a 200 day moving average price of $12.05. Allspring Utilities and High Income Fund has a 52 week low of $11.46 and a 52 week high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.0876 dividend. 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. This represents a c) annualized dividend and a yield of 8.7%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ascentis Independent Advisors acquired a new position in shares of Allspring Utilities and High Income Fund in the 1st quarter valued at about $118,000. LPL Financial LLC raised its holdings 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 acquiring an additional 8,894 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in Allspring Utilities and High Income Fund by 1.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 87,223 shares of the company’s stock worth $1,031,000 after purchasing an additional 1,178 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Allspring Utilities and High Income Fund in the fourth quarter worth approximately $469,000. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Allspring Utilities and High Income Fund by 12.4% in the third quarter. Integrated Wealth Concepts LLC now owns 11,538 shares of the company’s stock worth $143,000 after purchasing an additional 1,272 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.