Duff & Phelps Utility and Infrastructure Fund (NYSE:DPG) Shares Break Above Fifty Day Moving Average – What’s Next?

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $13.71 and traded as high as $13.76. Duff & Phelps Utility and Infrastructure Fund shares last traded at $13.6540, with a volume of 57,952 shares trading hands.

Duff & Phelps Utility and Infrastructure Fund Stock Up 0.8%

The firm’s 50-day moving average is $13.71 and its two-hundred day moving average is $14.27.

Duff & Phelps Utility and Infrastructure Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 31st will be paid a $0.0750 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $0.90 dividend on an annualized basis and a yield of 6.6%.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DPG. Allspring Global Investments Holdings LLC grew its holdings in shares of Duff & Phelps Utility and Infrastructure Fund by 25.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 624,733 shares of the investment management company’s stock valued at $9,021,000 after buying an additional 125,977 shares during the period. Kanen Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 6,425 shares during the period. Royal Bank of Canada boosted its stake in Duff & Phelps Utility and Infrastructure Fund by 13.2% in the 1st quarter. Royal Bank of Canada now owns 230,171 shares of the investment management company’s stock worth $3,323,000 after purchasing an additional 26,802 shares during the period. Bulldog Investors LLP bought a new stake in shares of Duff & Phelps Utility and Infrastructure Fund in the first quarter valued at about $2,543,000. Finally, Saba Capital Management L.P. raised its position in Duff & Phelps Utility and Infrastructure Fund by 142.3% in the 1st quarter. Saba Capital Management L.P. now owns 172,750 shares of the investment management company’s stock valued at $2,495,000 after buying an additional 101,452 shares during the last quarter.

About Duff & Phelps Utility and Infrastructure Fund

Duff & Phelps Utility and Infrastructure Fund was a closed-end investment fund listed on the New York Stock Exchange under the symbol DPG. The fund was designed to provide investors with exposure to companies involved in utilities and infrastructure, including electric, gas, water and telecommunications businesses.

The fund primarily invested in equity securities, such as common and preferred stocks, as well as other securities issued by utility and infrastructure companies. Its portfolio could include companies operating in the United States and international markets, giving investors access to infrastructure-related businesses across multiple geographies.

DPG was associated with Duff & Phelps Investment Management, an investment manager known for specializing in utility, infrastructure and related asset classes.