Duff & Phelps Utility and Infrastructure Fund (NYSE:DPG) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $14.46 and traded as low as $14.06. Duff & Phelps Utility and Infrastructure Fund shares last traded at $14.25, with a volume of 67,148 shares.

Duff & Phelps Utility and Infrastructure Fund Stock Performance

The company has a fifty day simple moving average of $14.46 and a 200-day simple moving average of $13.98.

Duff & Phelps Utility and Infrastructure Fund Announces Dividend

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 $0.075 dividend. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, September 30th.

Institutional Investors Weigh In On Duff & Phelps Utility and Infrastructure Fund

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 12.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,756 shares of the investment management company’s stock valued at $6,339,000 after buying an additional 56,105 shares in the last quarter. Kanen Wealth Management LLC raised its position in Duff & Phelps Utility and Infrastructure Fund by 114.2% during the first quarter. Kanen Wealth Management LLC now owns 585,101 shares of the investment management company’s stock valued at $7,156,000 after acquiring an additional 311,979 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Duff & Phelps Utility and Infrastructure Fund by 133.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 73,286 shares of the investment management company’s stock valued at $931,000 after acquiring an additional 41,886 shares in the last quarter. Closed End Fund Advisors Inc. acquired a new stake in Duff & Phelps Utility and Infrastructure Fund in the fourth quarter valued at approximately $515,000. Finally, Concorde Asset Management LLC lifted its stake in Duff & Phelps Utility and Infrastructure Fund by 21.6% in the fourth quarter. Concorde Asset Management LLC now owns 57,520 shares of the investment management company’s stock valued at $731,000 after acquiring an additional 10,220 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.