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

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 Thursday, July 31st will be paid a dividend of 0.07 per share by the investment management company on Monday, August 11th. This represents a $0.84 annualized dividend and a yield of 6.95%. The ex-dividend date is Thursday, July 31st.

Duff & Phelps Utility and Infrastructure Fund Stock Down 0.0%

Duff & Phelps Utility and Infrastructure Fund stock opened at $12.09 on Thursday. The stock’s 50 day simple moving average is $12.16 and its two-hundred day simple moving average is $11.91. Duff & Phelps Utility and Infrastructure Fund has a fifty-two week low of $9.48 and a fifty-two week high of $12.55.

Insider Buying and Selling at Duff & Phelps Utility and Infrastructure Fund

In other news, major shareholder Metlife Investment Management, acquired 1,000,000 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were acquired at an average cost of $25.00 per share, with a total value of $25,000,000.00. Following the transaction, the insider now owns 748,000 shares in the company, valued at $18,700,000. The trade was a -396.83% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of 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 lifted its stake in Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) by 114.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 585,101 shares of the investment management company’s stock after purchasing an additional 311,979 shares during the quarter. Duff & Phelps Utility and Infrastructure Fund comprises approximately 2.9% of Kanen Wealth Management LLC’s holdings, making the stock its 11th largest position. Kanen Wealth Management LLC’s holdings in Duff & Phelps Utility and Infrastructure Fund were worth $7,156,000 as of its most recent SEC filing.

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.