Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Allspring Utilities and High Income Fund (NYSEAMERICAN:ERH) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $10.93. Allspring Utilities and High Income Fund shares last traded at $10.74, with a volume of 23,179 shares trading hands.

Allspring Utilities and High Income Fund Stock Performance

Allspring Utilities and High Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.0635 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date is Tuesday, November 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. Wolverine Asset Management LLC raised its holdings in Allspring Utilities and High Income Fund by 157.1% in the third quarter. Wolverine Asset Management LLC now owns 82,320 shares of the company’s stock worth $919,000 after purchasing an additional 50,307 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Allspring Utilities and High Income Fund during the second quarter valued at about $92,000. Logan Stone Capital LLC acquired a new position in shares of Allspring Utilities and High Income Fund during the second quarter valued at about $375,000. Robinson Capital Management LLC increased its holdings in shares of Allspring Utilities and High Income Fund by 23.1% during the first quarter. Robinson Capital Management LLC now owns 54,952 shares of the company’s stock valued at $523,000 after acquiring an additional 10,310 shares in the last quarter. Finally, Cornerstone Advisors LLC increased its holdings in shares of Allspring Utilities and High Income Fund by 18.1% during the first quarter. Cornerstone Advisors LLC now owns 128,355 shares of the company’s stock valued at $1,212,000 after acquiring an additional 19,708 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.