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

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) announced a monthly dividend on Monday, March 16th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.07 per share by the investment management company on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, May 29th.

Duff & Phelps Utility and Infrastructure Fund Stock Performance

Shares of NYSE:DPG opened at $14.54 on Tuesday. The business has a fifty day moving average of $13.85 and a 200-day moving average of $13.22. Duff & Phelps Utility and Infrastructure Fund has a twelve month low of $10.45 and a twelve month high of $14.96.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kanen Wealth Management LLC raised its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 114.2% in the first quarter. Kanen Wealth Management LLC now owns 585,101 shares of the investment management company’s stock worth $7,156,000 after acquiring an additional 311,979 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Duff & Phelps Utility and Infrastructure Fund by 7.0% during the second quarter. Cetera Investment Advisers now owns 57,624 shares of the investment management company’s stock worth $715,000 after purchasing an additional 3,781 shares in the last quarter. Cornerstone Advisors LLC bought a new stake in shares of Duff & Phelps Utility and Infrastructure Fund during the second quarter valued at approximately $72,000. Advisors Asset Management Inc. grew its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 45.2% during the second quarter. Advisors Asset Management Inc. now owns 674,689 shares of the investment management company’s stock valued at $8,373,000 after purchasing an additional 210,024 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Duff & Phelps Utility and Infrastructure Fund in the second quarter valued at approximately $3,272,000.

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.