Duff & Phelps Utility and Infrastructure Fund (NYSE:DPG) Shares Cross Above 50-Day Moving Average – Should You Sell?

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG – Get Free Report)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.54 and traded as high as $14.55. Duff & Phelps Utility and Infrastructure Fund shares last traded at $14.49, with a volume of 51,138 shares traded.

Duff & Phelps Utility and Infrastructure Fund Trading Down 0.3%

The firm has a fifty day simple moving average of $14.54 and a 200-day simple moving average of $14.39.

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Duff & Phelps Utility and Infrastructure Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.075 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Wednesday, September 30th.

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

A number of hedge funds have recently modified their holdings of DPG. Allspring Global Investments Holdings LLC raised its position in Duff & Phelps Utility and Infrastructure Fund by 12.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,756 shares of the investment management company’s stock valued at $6,339,000 after purchasing an additional 56,105 shares during the last quarter. Saba Capital Management L.P. boosted its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 142.3% during the first quarter. Saba Capital Management L.P. now owns 172,750 shares of the investment management company’s stock worth $2,495,000 after buying an additional 101,452 shares during the period. Kanen Wealth Management LLC boosted its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 114.2% during the first quarter. Kanen Wealth Management LLC now owns 585,101 shares of the investment management company’s stock worth $7,156,000 after buying an additional 311,979 shares during the period. Closed End Fund Advisors Inc. purchased a new position in shares of Duff & Phelps Utility and Infrastructure Fund during the fourth quarter worth about $515,000. Finally, Bulldog Investors LLP acquired a new position in Duff & Phelps Utility and Infrastructure Fund in the 1st quarter valued at about $2,543,000.

About Duff & Phelps Utility and Infrastructure Fund

(Get Free Report)

The Duff & Phelps Utility and Infrastructure Fund Inc (NYSE: DPG) is a diversified, closed-end management investment company that seeks to provide investors with high current income and the potential for capital appreciation. The fund pursues its investment objectives primarily through equity and equity-related securities of companies engaged in the utility and infrastructure sectors, including regulated and non-regulated utilities, energy infrastructure, transportation, communications, water, and related businesses.

At least 80% of the fund’s total assets are invested in equity securities of utilities and infrastructure companies.

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