Short Interest in Wells Fargo Utilities and High Incm Fund (NYSEAMERICAN:ERH) Decreases By 44.8%

Wells Fargo Utilities and High Incm Fund (NYSEAMERICAN:ERH) saw a significant decline in short interest in the month of March. As of March 13th, there was short interest totalling 19,500 shares, a decline of 44.8% from the February 27th total of 35,300 shares. Based on an average daily trading volume, of 32,300 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the company’s shares are short sold.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PSI Advisors LLC purchased a new position in Wells Fargo Utilities and High Incm Fund during the 4th quarter valued at $529,000. J.W. Cole Advisors Inc. purchased a new position in Wells Fargo Utilities and High Incm Fund during the 4th quarter valued at $362,000. TFG Advisers LLC bought a new stake in shares of Wells Fargo Utilities and High Incm Fund during the 4th quarter valued at $30,000. UBS Group AG boosted its holdings in shares of Wells Fargo Utilities and High Incm Fund by 4.7% during the 4th quarter. UBS Group AG now owns 59,917 shares of the company’s stock valued at $837,000 after buying an additional 2,685 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Wells Fargo Utilities and High Incm Fund by 51.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 18,383 shares of the company’s stock valued at $257,000 after buying an additional 6,254 shares in the last quarter.

Shares of NYSEAMERICAN ERH traded up $0.62 during mid-day trading on Thursday, hitting $9.78. The stock had a trading volume of 121,935 shares, compared to its average volume of 45,316. Wells Fargo Utilities and High Incm Fund has a 1 year low of $7.51 and a 1 year high of $15.97.

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.0804 dividend. This represents a $0.96 annualized dividend and a dividend yield of 9.87%. This is an increase from Wells Fargo Utilities and High Incm Fund’s previous monthly dividend of $0.08. The ex-dividend date of this dividend is Thursday, March 12th.

About Wells Fargo Utilities and High Incm Fund

Wells Fargo Advantage Utilities and High Income Fund is a closed-ended balanced mutual fund launched and managed by Wells Fargo Funds Management LLC. It is sub advised 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.

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