Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $11.37. Allspring Utilities and High Income Fund shares last traded at $11.33, with a volume of 13,329 shares trading hands.

Allspring Utilities and High Income Fund Stock Performance

Allspring Utilities and High Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th will be issued a $0.0763 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 8.08%.

Institutional Trading of Allspring Utilities and High Income Fund

A number of hedge funds have recently added to or reduced their stakes in ERH. Zimmer Partners LP acquired a new position in Allspring Utilities and High Income Fund in the 4th quarter worth about $562,000. Saba Capital Management L.P. increased its position in shares of Allspring Utilities and High Income Fund by 36.2% in the fourth quarter. Saba Capital Management L.P. now owns 374,129 shares of the company’s stock valued at $4,011,000 after buying an additional 99,408 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Allspring Utilities and High Income Fund during the 4th quarter worth approximately $110,000. Level Four Advisory Services LLC raised its stake in shares of Allspring Utilities and High Income Fund by 36.6% during the 4th quarter. Level Four Advisory Services LLC now owns 15,865 shares of the company’s stock worth $170,000 after buying an additional 4,252 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted its position in shares of Allspring Utilities and High Income Fund by 159.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 70,900 shares of the company’s stock valued at $760,000 after buying an additional 43,571 shares in the last quarter.

Allspring Utilities and High Income Fund Company Profile

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.