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

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) announced a monthly dividend on Tuesday, June 17th, Wall Street Journal reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.07 per share by the investment management company on Friday, October 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend is Tuesday, September 30th.

Duff & Phelps Utility and Infrastructure Fund Stock Performance

DPG stock opened at $12.09 on Wednesday. The firm has a 50 day moving average of $12.14 and a 200-day moving average of $11.91. Duff & Phelps Utility and Infrastructure Fund has a 12 month low of $9.48 and a 12 month high of $12.55.

Insiders Place Their Bets

In other Duff & Phelps Utility and Infrastructure Fund news, major shareholder Metlife Investment Management, acquired 1,000,000 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was bought at an average price of $25.00 per share, with a total value of $25,000,000.00. Following the completion of the acquisition, the insider now owns 748,000 shares of the company’s stock, valued at $18,700,000. This trade represents a -396.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Duff & Phelps Utility and Infrastructure Fund stock. Kanen Wealth Management LLC increased its holdings in Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) by 114.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 585,101 shares of the investment management company’s stock after purchasing an additional 311,979 shares during the period. Duff & Phelps Utility and Infrastructure Fund makes up about 2.9% of Kanen Wealth Management LLC’s holdings, making the stock its 11th biggest holding. Kanen Wealth Management LLC’s holdings in Duff & Phelps Utility and Infrastructure Fund were worth $7,156,000 at the end of the most recent quarter.

Duff & Phelps Utility and Infrastructure Fund Company Profile

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.