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

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH)’s share price 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.

Allspring Utilities and High Income Fund Stock 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. Investors of record on Friday, April 12th will be paid a dividend of $0.0628 per share. This represents a $0.75 dividend on an annualized basis and a yield of 8.37%. The ex-dividend date of this dividend is Thursday, April 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG raised its stake in Allspring Utilities and High Income Fund by 19.2% during the second quarter. UBS Group AG now owns 11,756 shares of the company’s stock valued at $142,000 after purchasing an additional 1,896 shares in the last quarter. LPL Financial LLC bought a new position in shares of Allspring Utilities and High Income Fund in the 2nd quarter valued at about $367,000. Captrust Financial Advisors purchased a new position in Allspring Utilities and High Income Fund in the second quarter worth about $25,000. Commonwealth Equity Services LLC bought a new stake in Allspring Utilities and High Income Fund during the third quarter worth approximately $112,000. Finally, Cetera Advisors LLC raised its position in Allspring Utilities and High Income Fund by 9.0% during the fourth quarter. Cetera Advisors LLC now owns 24,200 shares of the company’s stock valued at $271,000 after purchasing an additional 2,000 shares during the period.

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.