Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.82 and traded as high as $12.95. Allspring Utilities and High Income Fund shares last traded at $12.76, with a volume of 32,629 shares.

Allspring Utilities and High Income Fund Stock Down 1.4%

The business has a 50 day simple moving average of $12.47 and a 200-day simple moving average of $11.82.

Allspring Utilities and High Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be given a $0.0833 dividend. The ex-dividend date is Thursday, November 13th. This represents a c) annualized dividend and a yield of 7.8%. This is an increase from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ERH. Raymond James Financial Inc. purchased a new position in shares of Allspring Utilities and High Income Fund in the second quarter worth approximately $25,000. CX Institutional acquired a new position in Allspring Utilities and High Income Fund in the 3rd quarter worth approximately $27,000. Tactive Advisors LLC purchased a new position in Allspring Utilities and High Income Fund during the 2nd quarter worth approximately $154,000. Avantax Advisory Services Inc. acquired a new stake in Allspring Utilities and High Income Fund during the 1st quarter valued at $232,000. Finally, Level Four Advisory Services LLC lifted its holdings in shares of Allspring Utilities and High Income Fund by 4.7% in the second quarter. Level Four Advisory Services LLC now owns 20,151 shares of the company’s stock valued at $233,000 after purchasing an additional 910 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.