Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Stock Crosses Above 200-Day Moving Average of $0.00

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $8.87. Allspring Utilities and High Income Fund shares last traded at $8.81, with a volume of 21,275 shares changing hands.

Allspring Utilities and High Income Fund Trading Up 1.4 %

Allspring Utilities and High Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be issued a dividend of $0.0628 per share. This represents a $0.75 annualized dividend and a yield of 8.37%. The ex-dividend date of this dividend is Thursday, April 11th.

Hedge Funds Weigh In On Allspring Utilities and High Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Advisors LLC increased its stake in Allspring Utilities and High Income Fund by 78.3% in the fourth quarter. Cornerstone Advisors LLC now owns 108,647 shares of the company’s stock valued at $1,001,000 after purchasing an additional 47,728 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Allspring Utilities and High Income Fund in the 4th quarter valued at $425,000. LPL Financial LLC acquired a new stake in Allspring Utilities and High Income Fund during the 2nd quarter worth $367,000. 1607 Capital Partners LLC raised its stake in Allspring Utilities and High Income Fund by 6.7% during the 4th quarter. 1607 Capital Partners LLC now owns 445,064 shares of the company’s stock worth $4,099,000 after acquiring an additional 27,996 shares in the last quarter. Finally, Arlington Capital Management Inc. purchased a new stake in Allspring Utilities and High Income Fund in the fourth quarter valued at $147,000.

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.