Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Down 64.8% in June

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

Allspring Utilities and High Income Fund Stock Performance

Shares of NYSEAMERICAN:ERH opened at $12.11 on Friday. Allspring Utilities and High Income Fund has a 52-week low of $11.38 and a 52-week high of $13.07. The business has a 50-day moving average price of $12.02 and a 200-day moving average price of $12.05.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.0876 per share. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.09. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date is Friday, July 10th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Ascentis Independent Advisors acquired a new stake in shares of Allspring Utilities and High Income Fund in the first quarter worth approximately $118,000. Blue Bell Private Wealth Management LLC increased its position in Allspring Utilities and High Income Fund by 1.4% during the fourth 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Allspring Utilities and High Income Fund during the 2nd quarter worth approximately $25,000. Integrated Wealth Concepts LLC raised its position in 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. Finally, LPL Financial LLC raised its holdings in 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 valued at $308,000 after buying an additional 8,894 shares during the period.

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.