Duff & Phelps Utility and Infrastructure Fund (NYSE:DPG) Shares Cross Above 50 Day Moving Average – Here’s Why

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.46 and traded as high as $14.84. Duff & Phelps Utility and Infrastructure Fund shares last traded at $14.6930, with a volume of 31,353 shares.

Duff & Phelps Utility and Infrastructure Fund Stock Performance

The firm has a 50 day moving average of $14.46 and a 200 day moving average of $14.06.

Duff & Phelps Utility and Infrastructure Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.075 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DPG. Kanen Wealth Management LLC increased its stake in Duff & Phelps Utility and Infrastructure Fund by 114.2% in the 1st quarter. Kanen Wealth Management LLC now owns 585,101 shares of the investment management company’s stock valued at $7,156,000 after buying an additional 311,979 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 7.0% in the second quarter. Cetera Investment Advisers now owns 57,624 shares of the investment management company’s stock worth $715,000 after purchasing an additional 3,781 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Duff & Phelps Utility and Infrastructure Fund in the second quarter worth about $185,000. First Trust Advisors LP raised its position in shares of Duff & Phelps Utility and Infrastructure Fund by 31.8% in the second quarter. First Trust Advisors LP now owns 71,502 shares of the investment management company’s stock valued at $887,000 after purchasing an additional 17,242 shares during the period. Finally, Walleye Capital LLC raised its holdings in Duff & Phelps Utility and Infrastructure Fund by 5.2% during the 2nd quarter. Walleye Capital LLC now owns 34,861 shares of the investment management company’s stock valued at $433,000 after acquiring an additional 1,721 shares during the period.

Duff & Phelps Utility and Infrastructure Fund Company Profile

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.