Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Share Price Passes Above 200 Day Moving Average – Here’s Why

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.05 and traded as high as $12.15. Allspring Utilities and High Income Fund shares last traded at $11.95, with a volume of 41,028 shares trading hands.

Allspring Utilities and High Income Fund Stock Performance

The stock has a 50 day moving average price of $12.61 and a 200 day moving average price of $12.05.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 11th will be given a $0.0838 dividend. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. This represents a c) annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend is Thursday, December 11th.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

Several large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC raised its holdings in shares of Allspring Utilities and High Income Fund by 12.4% in the 3rd 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 period. CX Institutional purchased a new stake in Allspring Utilities and High Income Fund in the third quarter worth $27,000. Tactive Advisors LLC purchased a new stake in Allspring Utilities and High Income Fund in the second quarter worth $154,000. Raymond James Financial Inc. bought a new stake in shares of Allspring Utilities and High Income Fund in the second quarter valued at $25,000. Finally, Level Four Advisory Services LLC lifted its position 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 valued at $233,000 after buying an additional 910 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.