Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Share Price Passes Above 200-Day Moving Average – What’s Next?

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) shares 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 changing hands.

Allspring Utilities and High Income Fund Stock Up 0.8 %

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 13th will be given a $0.0763 dividend. This is a boost 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 8.01%. The ex-dividend date of this dividend is Thursday, February 13th.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Several hedge funds have recently modified their holdings of ERH. Saba Capital Management L.P. increased 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 purchasing an additional 99,408 shares during the period. Zimmer Partners LP acquired a new position in shares of Allspring Utilities and High Income Fund in the 4th quarter worth $562,000. Wolverine Asset Management LLC grew its holdings in shares of Allspring Utilities and High Income Fund by 157.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 82,320 shares of the company’s stock worth $919,000 after acquiring an additional 50,307 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in shares of Allspring Utilities and High Income Fund by 159.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 70,900 shares of the company’s stock worth $760,000 after acquiring an additional 43,571 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Allspring Utilities and High Income Fund in the 4th quarter worth $110,000.

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.