Short Interest in Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Grows By 46.7%

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 6,797 shares, a growth of 46.7% from the December 31st total of 4,632 shares. Based on an average daily volume of 26,032 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 26,032 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

A number of hedge funds have recently added to or reduced their stakes in ERH. Stratos Wealth Partners LTD. purchased a new stake in Allspring Utilities and High Income Fund in the 4th quarter valued at approximately $469,000. Tactive Advisors LLC purchased a new stake in shares of Allspring Utilities and High Income Fund in the second quarter valued at approximately $154,000. CX Institutional acquired a new position in Allspring Utilities and High Income Fund during the third quarter worth $27,000. Raymond James Financial Inc. purchased a new position in Allspring Utilities and High Income Fund in the second quarter worth $25,000. Finally, Integrated Wealth Concepts LLC lifted its holdings 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 acquiring an additional 1,272 shares during the period.

Allspring Utilities and High Income Fund Stock Performance

NYSEAMERICAN:ERH opened at $11.84 on Friday. The firm’s fifty day moving average price is $11.88 and its 200 day moving average price is $12.15. Allspring Utilities and High Income Fund has a 1-year low of $9.98 and a 1-year high of $13.07.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 12th will be issued a $0.0848 dividend. The ex-dividend date of this dividend is Thursday, February 12th. 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 dividend yield of 8.6%.

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.