Duff & Phelps Utility and Infrastructure Fund (NYSE:DPG) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.55 and traded as low as $14.08. Duff & Phelps Utility and Infrastructure Fund shares last traded at $14.12, with a volume of 51,699 shares.

Duff & Phelps Utility and Infrastructure Fund Stock Performance

The stock has a fifty day simple moving average of $14.67 and a 200-day simple moving average of $14.55.

Duff & Phelps Utility and Infrastructure Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

Hedge Funds 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 the company. Wedbush Securities Inc. grew its stake in Duff & Phelps Utility and Infrastructure Fund by 36.1% during the second quarter. Wedbush Securities Inc. now owns 29,851 shares of the investment management company’s stock worth $443,000 after buying an additional 7,914 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 24.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 108,130 shares of the investment management company’s stock valued at $1,605,000 after acquiring an additional 21,294 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Duff & Phelps Utility and Infrastructure Fund by 1.2% in the 1st quarter. NewEdge Advisors LLC now owns 116,718 shares of the investment management company’s stock worth $1,685,000 after acquiring an additional 1,352 shares in the last quarter. Kanen Wealth Management LLC boosted its holdings in shares of Duff & Phelps Utility and Infrastructure Fund by 1.2% in the 1st 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 in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of 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 acquiring an additional 26,802 shares in the last quarter.

Duff & Phelps Utility and Infrastructure Fund Company Profile

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.