Should I retake the ACT?

My sophomore year I took the ACT and got a 31. About a month ago I took it and got a 32, primarily because I did very poorly on the reading section (a 26). I am not sure if I should retake it. I am most likely going to end up going to a college such as the U of M or St. Olaf in Minnesota. This score should get me in just fine. Would there be a huge difference in scholarships if I moved my score up a few points?

Also, for the June test date I am taking the SAT the week before. Taking them back to back could make the scores worse. I would love a better score, but this is fine. So, should I retake it?

Thanks!

How much scholarship money are you looking for? Also, are you in-state for U of M?

For private LACs, a 32 ACT may get you some but probably not a lot of merit scholarship money. To get money from competitive merit scholarships, you will likely need a 34+ ACT (at least with the LACs that we applied to that was about the bottom limit).