Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Trading 0.2% Higher – What’s Next?

Shares of Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) traded up 0.2% on Thursday . The stock traded as high as $11.14 and last traded at $11.13. 6,022 shares were traded during trading, a decline of 77% from the average session volume of 25,813 shares. The stock had previously closed at $11.10.

Allspring Utilities and High Income Fund Trading Up 0.2 %

Allspring Utilities and High Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be paid a $0.0741 dividend. This is a boost from Allspring Utilities and High Income Fund’s previous monthly dividend of $0.06. This represents a $0.89 annualized dividend and a dividend yield of 8.00%. The ex-dividend date of this dividend is Thursday, December 12th.

Institutional Trading of Allspring Utilities and High Income Fund

A number of hedge funds have recently added to or reduced their stakes in ERH. Sanctuary Advisors LLC purchased a new position in Allspring Utilities and High Income Fund during the second quarter worth approximately $92,000. Logan Stone Capital LLC acquired a new position in shares of Allspring Utilities and High Income Fund during the 2nd quarter worth approximately $375,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Allspring Utilities and High Income Fund by 157.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 82,320 shares of the company’s stock valued at $919,000 after buying an additional 50,307 shares in the last quarter.

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.