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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 10,138 shares, a growth of 383.9% from the July 30th total of 2,095 shares. Based on an average daily trading volume, of 29,685 shares, the days-to-cover ratio is presently 0.3 days.

Allspring Utilities and High Income Fund Trading Down 0.3%

Allspring Utilities and High Income Fund stock traded down $0.04 during mid-day trading on Wednesday, reaching $11.54. The company had a trading volume of 8,860 shares, compared to its average volume of 25,773. The stock’s 50-day simple moving average is $11.89 and its 200-day simple moving average is $12.09. Allspring Utilities and High Income Fund has a 1 year low of $11.47 and a 1 year high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.0879 dividend. The ex-dividend date is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of ERH. CoreCap Advisors LLC boosted its position in Allspring Utilities and High Income Fund by 43.7% during the second quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock worth $40,000 after purchasing an additional 1,000 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its position in shares of 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 valued at $1,031,000 after buying an additional 1,178 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Allspring Utilities and High Income Fund by 12.4% during 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Allspring Utilities and High Income Fund during the 2nd quarter worth $25,000. Finally, LPL Financial LLC boosted 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 buying an additional 8,894 shares in the last quarter.

Allspring Utilities and High Income Fund Company Profile

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.