Saba Capital Management L.P. Increases Stake in Duff & Phelps Utility and Infrastructure Fund Inc. $DPG

Saba Capital Management L.P. increased its stake in Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) by 142.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 172,750 shares of the investment management company’s stock after acquiring an additional 101,452 shares during the period. Saba Capital Management L.P.’s holdings in Duff & Phelps Utility and Infrastructure Fund were worth $2,495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CENTRAL TRUST Co purchased a new stake in Duff & Phelps Utility and Infrastructure Fund in the first quarter worth about $29,000. Fifth Third Bancorp purchased a new position in shares of Duff & Phelps Utility and Infrastructure Fund during the 1st quarter worth approximately $31,000. Hilton Head Capital Partners LLC bought a new position in shares of Duff & Phelps Utility and Infrastructure Fund in the 4th quarter worth approximately $46,000. PFG Investments LLC bought a new position in shares of Duff & Phelps Utility and Infrastructure Fund in the 1st quarter worth approximately $148,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Duff & Phelps Utility and Infrastructure Fund in the 2nd quarter valued at approximately $129,000.

Duff & Phelps Utility and Infrastructure Fund Stock Performance

NYSE DPG opened at $14.97 on Tuesday. Duff & Phelps Utility and Infrastructure Fund Inc. has a twelve month low of $12.34 and a twelve month high of $15.15. The stock’s 50 day moving average is $14.54 and its 200 day moving average is $14.32.

Duff & Phelps Utility and Infrastructure Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a yield of 6.0%.

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.