Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Sees Large Decrease in Short Interest

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 5,900 shares, a decline of 64.0% from the January 15th total of 16,400 shares. Based on an average trading volume of 27,500 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Allspring Utilities and High Income Fund

Several hedge funds have recently added to or reduced their stakes in ERH. Sanctuary Advisors LLC bought a new stake in Allspring Utilities and High Income Fund in the second quarter worth $92,000. Wolverine Asset Management LLC lifted its stake in Allspring Utilities and High Income Fund by 157.1% in the third quarter. Wolverine Asset Management LLC now owns 82,320 shares of the company’s stock worth $919,000 after purchasing an additional 50,307 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its stake in Allspring Utilities and High Income Fund by 159.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 70,900 shares of the company’s stock worth $760,000 after purchasing an additional 43,571 shares during the last quarter. Level Four Advisory Services LLC raised its stake in shares of Allspring Utilities and High Income Fund by 36.6% during the fourth quarter. Level Four Advisory Services LLC now owns 15,865 shares of the company’s stock valued at $170,000 after acquiring an additional 4,252 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Allspring Utilities and High Income Fund during the fourth quarter valued at about $110,000.

Allspring Utilities and High Income Fund Price Performance

Allspring Utilities and High Income Fund stock traded down $0.05 during mid-day trading on Friday, hitting $11.15. The company’s stock had a trading volume of 25,646 shares, compared to its average volume of 32,028. Allspring Utilities and High Income Fund has a 12 month low of $8.75 and a 12 month high of $11.36.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th will be paid a $0.0763 dividend. The ex-dividend date is Thursday, February 13th. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08. This represents a $0.92 annualized dividend and a yield of 8.21%.

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.