Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.90 and traded as high as $11.54. Allspring Utilities and High Income Fund shares last traded at $11.52, with a volume of 10,583 shares trading hands.

Allspring Utilities and High Income Fund Trading Down 0.3%

The stock’s fifty day moving average price is $11.22 and its 200-day moving average price is $10.90.

Allspring Utilities and High Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 11th will be issued a dividend of $0.0806 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 8.40%. This is a positive change from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.08.

Institutional Investors Weigh In On Allspring Utilities and High Income Fund

A number of large investors have recently made changes to their positions in the company. Saba Capital Management L.P. boosted its position in Allspring Utilities and High Income Fund by 36.2% during the fourth 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 last quarter. Zimmer Partners LP boosted its position in Allspring Utilities and High Income Fund by 145.5% during the first quarter. Zimmer Partners LP now owns 128,803 shares of the company’s stock valued at $1,419,000 after purchasing an additional 76,334 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in Allspring Utilities and High Income Fund by 159.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 70,900 shares of the company’s stock valued at $760,000 after purchasing an additional 43,571 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in Allspring Utilities and High Income Fund during the first quarter valued at $232,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Allspring Utilities and High Income Fund during the fourth quarter valued at $110,000.

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.