Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH – Get Free Report) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $10.79 and traded as high as $10.85. Allspring Utilities and High Income Fund shares last traded at $10.85, with a volume of 22,599 shares changing hands.
Allspring Utilities and High Income Fund Price Performance
The firm has a fifty day simple moving average of $10.79 and a two-hundred day simple moving average of $11.75.
Allspring Utilities and High Income Fund Cuts Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be paid a $0.0876 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This is a negative change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.0879. This represents a $1.05 dividend on an annualized basis and a yield of 9.7%.
Institutional Investors Weigh In On Allspring Utilities and High Income Fund
A number of large investors have recently modified their holdings of ERH. CoreCap Advisors LLC raised its stake in Allspring Utilities and High Income Fund by 43.7% in the second quarter. CoreCap Advisors LLC now owns 3,290 shares of the company’s stock worth $40,000 after buying an additional 1,000 shares in the last quarter. Decision Investments Inc. boosted its position in Allspring Utilities and High Income Fund by 37.5% during the 3rd quarter. Decision Investments Inc. now owns 15,190 shares of the company’s stock valued at $157,000 after acquiring an additional 4,140 shares in the last quarter. Ascentis Independent Advisors bought a new stake in Allspring Utilities and High Income Fund during the 1st quarter valued at approximately $118,000. Finally, Shaker Financial Services LLC grew its holdings in shares of Allspring Utilities and High Income Fund by 46.4% during the 3rd quarter. Shaker Financial Services LLC now owns 66,161 shares of the company’s stock worth $691,000 after acquiring an additional 20,956 shares during the period.
Allspring Utilities and High Income Fund Company Profile
Allspring Utilities and High Income Fund is a closed-end investment fund listed on the NYSE American under the symbol ERH. The fund seeks to provide current income and, as a secondary objective, capital appreciation by investing in a portfolio of utility-related securities and high-income investments.
Its portfolio may include common stocks, preferred stocks, convertible securities and debt issued by companies in the utilities sector, including electric, gas, telecommunications and related infrastructure businesses.
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