Duff & Phelps Utility and Infrastructure Fund (NYSE:DPG) Shares Break Above 50-Day Moving Average – Here’s What Happened

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG – Get Free Report)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $13.71 and traded as high as $13.76. Duff & Phelps Utility and Infrastructure Fund shares last traded at $13.6540, with a volume of 57,952 shares traded.

Duff & Phelps Utility and Infrastructure Fund Trading Down 0.1%

The business’s 50-day simple moving average is $13.68 and its 200-day simple moving average is $14.27.

Duff & Phelps Utility and Infrastructure Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.0750 per share. The ex-dividend date is Thursday, December 31st. This represents a $0.90 annualized dividend and a dividend yield of 6.6%.

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

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its position in shares of Duff & Phelps Utility and Infrastructure Fund by 25.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 624,733 shares of the investment management company’s stock valued at $9,021,000 after acquiring an additional 125,977 shares during the last quarter. Kanen Wealth Management LLC boosted its position in shares of Duff & Phelps Utility and Infrastructure Fund by 1.2% in the 1st quarter. Kanen Wealth Management LLC now owns 523,585 shares of the investment management company’s stock worth $7,561,000 after purchasing an additional 6,425 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Duff & Phelps Utility and Infrastructure Fund by 13.2% in the 1st quarter. Royal Bank of Canada now owns 230,171 shares of the investment management company’s stock worth $3,323,000 after purchasing an additional 26,802 shares during the last quarter. Bulldog Investors LLP bought a new position in shares of Duff & Phelps Utility and Infrastructure Fund in the 1st quarter worth $2,543,000. Finally, Saba Capital Management L.P. grew 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 purchasing an additional 101,452 shares during the period.

Duff & Phelps Utility and Infrastructure Fund Company Profile

(Get Free Report)

Duff & Phelps Utility and Infrastructure Fund was a closed-end investment fund listed on the New York Stock Exchange under the symbol DPG. The fund was designed to provide investors with exposure to companies involved in utilities and infrastructure, including electric, gas, water and telecommunications businesses.

The fund primarily invested in equity securities, such as common and preferred stocks, as well as other securities issued by utility and infrastructure companies. Its portfolio could include companies operating in the United States and international markets, giving investors access to infrastructure-related businesses across multiple geographies.

DPG was associated with Duff & Phelps Investment Management, an investment manager known for specializing in utility, infrastructure and related asset classes.

Further Reading

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