Duff & Phelps Utility and Infrastructure Fund (NYSE:DPG) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.58 and traded as high as $14.64. Duff & Phelps Utility and Infrastructure Fund shares last traded at $14.4850, with a volume of 96,138 shares changing hands.

Duff & Phelps Utility and Infrastructure Fund Stock Down 1.1%

The company’s fifty day moving average price is $14.58 and its 200 day moving average price is $13.84.

Duff & Phelps Utility and Infrastructure Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $0.07 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.8%.

Institutional Trading of Duff & Phelps Utility and Infrastructure Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in Duff & Phelps Utility and Infrastructure Fund by 1.2% during the first quarter. NewEdge Advisors LLC now owns 116,718 shares of the investment management company’s stock worth $1,685,000 after buying an additional 1,352 shares during the last quarter. Kanen Wealth Management LLC increased its holdings in Duff & Phelps Utility and Infrastructure Fund by 1.2% during the first quarter. Kanen Wealth Management LLC now owns 523,585 shares of the investment management company’s stock worth $7,561,000 after buying an additional 6,425 shares during the last quarter. Royal Bank of Canada increased its holdings in Duff & Phelps Utility and Infrastructure Fund by 13.2% during the first quarter. Royal Bank of Canada now owns 230,171 shares of the investment management company’s stock worth $3,323,000 after buying an additional 26,802 shares during the last quarter. Saba Capital Management L.P. increased its holdings in Duff & Phelps Utility and Infrastructure Fund by 142.3% during the first quarter. Saba Capital Management L.P. now owns 172,750 shares of the investment management company’s stock worth $2,495,000 after buying an additional 101,452 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Duff & Phelps Utility and Infrastructure Fund by 25.8% during the first quarter. First Trust Advisors LP now owns 137,092 shares of the investment management company’s stock worth $1,980,000 after buying an additional 28,092 shares during the last quarter.

About Duff & Phelps Utility and Infrastructure Fund

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.