Short Interest in Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Drops By 19.3%

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 4,632 shares, a drop of 19.3% from the December 15th total of 5,743 shares. Based on an average daily volume of 22,134 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 22,134 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

A number of large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC lifted 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 valued at $143,000 after purchasing an additional 1,272 shares during the period. CX Institutional purchased a new position in Allspring Utilities and High Income Fund in the third quarter valued at about $27,000. Tactive Advisors LLC acquired a new stake in shares of Allspring Utilities and High Income Fund during the 2nd quarter valued at approximately $154,000. Raymond James Financial Inc. acquired a new stake in shares of Allspring Utilities and High Income Fund during the 2nd quarter valued at approximately $25,000. Finally, Level Four Advisory Services LLC boosted its stake in shares of Allspring Utilities and High Income Fund by 4.7% during the 2nd quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock worth $233,000 after acquiring an additional 910 shares in the last quarter.

Allspring Utilities and High Income Fund Stock Performance

NYSEAMERICAN ERH traded down $0.06 on Monday, hitting $11.82. 20,405 shares of the company’s stock were exchanged, compared to its average volume of 25,491. The firm’s 50-day moving average price is $12.04 and its two-hundred day moving average price is $12.14. Allspring Utilities and High Income Fund has a fifty-two week low of $9.98 and a fifty-two week high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.0843 dividend. This represents a c) dividend on an annualized basis and a yield of 8.6%. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. The ex-dividend date of this dividend is Monday, January 12th.

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.