Duff & Phelps Utility and Infrastructure Fund Inc. (DPG) To Go Ex-Dividend on July 31st

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) declared a monthly dividend on Wednesday, June 18th, Wall Street Journal reports. Shareholders of record on Thursday, July 31st will be given a dividend of 0.07 per share by the investment management company on Monday, August 11th. This represents a $0.84 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend is Thursday, July 31st.

Duff & Phelps Utility and Infrastructure Fund Price Performance

NYSE DPG opened at $12.42 on Tuesday. The company’s 50-day simple moving average is $12.33 and its two-hundred day simple moving average is $12.04. Duff & Phelps Utility and Infrastructure Fund has a one year low of $9.84 and a one year high of $12.70.

Insider Buying and Selling

In other news, major shareholder Metlife Investment Management, bought 1,000,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 748,000 shares of the company’s stock, valued at approximately $18,700,000. The trade was a -396.83% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

An institutional investor recently raised its position in Duff & Phelps Utility and Infrastructure Fund stock. Kanen Wealth Management LLC boosted its stake in shares of Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) by 114.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 585,101 shares of the investment management company’s stock after acquiring an additional 311,979 shares during the period. Duff & Phelps Utility and Infrastructure Fund comprises 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 as of its most recent filing with the SEC.

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.