Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Short Interest Up 114.3% in March

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,000 shares, a growth of 114.3% from the March 15th total of 2,800 shares. Based on an average daily volume of 30,700 shares, the short-interest ratio is currently 0.2 days.

Allspring Utilities and High Income Fund Stock Performance

NYSEAMERICAN ERH traded down $0.14 on Wednesday, reaching $10.45. The company had a trading volume of 13,209 shares, compared to its average volume of 28,053. Allspring Utilities and High Income Fund has a 12 month low of $8.75 and a 12 month high of $11.44. The firm’s 50 day moving average price is $10.89 and its 200 day moving average price is $10.70.

Allspring Utilities and High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.0785 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.94 annualized dividend and a yield of 9.01%.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in ERH. Blue Bell Private Wealth Management LLC increased 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 valued at $760,000 after purchasing an additional 43,571 shares during the period. Level Four Advisory Services LLC increased its position in shares of Allspring Utilities and High Income Fund by 36.6% in the fourth quarter. Level Four Advisory Services LLC now owns 15,865 shares of the company’s stock worth $170,000 after acquiring an additional 4,252 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Allspring Utilities and High Income Fund during the fourth quarter worth about $110,000. Saba Capital Management L.P. raised its position in shares of Allspring Utilities and High Income Fund by 36.2% during the 4th quarter. Saba Capital Management L.P. now owns 374,129 shares of the company’s stock valued at $4,011,000 after acquiring an additional 99,408 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in Allspring Utilities and High Income Fund during the 4th quarter valued at about $562,000.

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.