Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) Announces $0.07 Monthly Dividend

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) announced a monthly dividend on Wednesday, June 18th, Wall Street Journal reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.07 per share by the investment management company on Friday, October 10th. This represents a $0.84 annualized dividend and a yield of 6.95%. The ex-dividend date is Tuesday, September 30th.

Duff & Phelps Utility and Infrastructure Fund Price Performance

NYSE:DPG opened at $12.09 on Thursday. The stock has a 50-day simple moving average of $12.16 and a two-hundred day simple moving average of $11.91. Duff & Phelps Utility and Infrastructure Fund has a 52-week low of $9.48 and a 52-week high of $12.55.

Insider Transactions at Duff & Phelps Utility and Infrastructure Fund

In other Duff & Phelps Utility and Infrastructure Fund news, major shareholder Metlife Investment Management, acquired 1,000,000 shares of the company’s stock in a transaction dated Thursday, May 29th. The stock was purchased at an average price of $25.00 per share, with a total value of $25,000,000.00. Following the completion of the purchase, the insider now directly owns 748,000 shares in the company, valued at approximately $18,700,000. The trade was a -396.83% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Duff & Phelps Utility and Infrastructure Fund

A hedge fund recently raised its stake in Duff & Phelps Utility and Infrastructure Fund stock. Kanen Wealth Management LLC boosted its position in shares of Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) by 114.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 585,101 shares of the investment management company’s stock after buying an additional 311,979 shares during the period. Duff & Phelps Utility and Infrastructure Fund makes up about 2.9% of Kanen Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Kanen Wealth Management LLC’s holdings in Duff & Phelps Utility and Infrastructure Fund were worth $7,156,000 at the end of the most recent reporting period.

About Duff & Phelps Utility and Infrastructure Fund

Duff & Phelps Utility and Infrastructure Fund Inc is a closed-ended equity mutual fund launched by Virtus Investment Partners, Inc The fund is managed by Duff & Phelps Investment Management Co It invests in the public equity markets across the globe. The fund seeks to invest in the companies operating in utility sector.