Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.09 and traded as high as $12.22. Allspring Utilities and High Income Fund shares last traded at $12.09, with a volume of 13,594 shares.

Allspring Utilities and High Income Fund Stock Down 0.1%

The business’s 50 day moving average is $11.94 and its 200-day moving average is $12.09.

Allspring Utilities and High Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.0876 dividend. This is a boost 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 of this dividend is Friday, July 10th.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

A number of hedge funds have recently made changes to their positions in ERH. Raymond James Financial Inc. bought a new position in Allspring Utilities and High Income Fund in the 2nd quarter worth approximately $25,000. CoreCap Advisors LLC boosted its position in Allspring Utilities and High Income Fund by 43.7% during the 2nd quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock worth $40,000 after acquiring an additional 1,000 shares during the period. Ascentis Independent Advisors bought a new position in shares of Allspring Utilities and High Income Fund in the first quarter worth $118,000. Integrated Wealth Concepts LLC grew 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 worth $143,000 after purchasing an additional 1,272 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Allspring Utilities and High Income Fund by 51.9% during the fourth quarter. LPL Financial LLC now owns 26,039 shares of the company’s stock valued at $308,000 after purchasing 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.