Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) Sees Significant Increase in Short Interest

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) was the target of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 14,562 shares, a growth of 236.1% from the October 15th total of 4,332 shares. Based on an average daily volume of 55,661 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Duff & Phelps Utility and Infrastructure Fund

Several hedge funds have recently modified their holdings of DPG. Advisors Asset Management Inc. purchased a new position in Duff & Phelps Utility and Infrastructure Fund in the 3rd quarter worth $6,719,000. Bulldog Investors LLP acquired a new stake in shares of Duff & Phelps Utility and Infrastructure Fund during the first quarter worth about $2,543,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Duff & Phelps Utility and Infrastructure Fund by 25.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 624,733 shares of the investment management company’s stock worth $9,021,000 after purchasing an additional 125,977 shares during the period. Saba Capital Management L.P. lifted its holdings in shares of 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 purchasing an additional 101,452 shares during the period. Finally, First Trust Advisors LP boosted its position in Duff & Phelps Utility and Infrastructure Fund by 25.8% in the first quarter. First Trust Advisors LP now owns 137,092 shares of the investment management company’s stock valued at $1,980,000 after buying an additional 28,092 shares during the last quarter.

Duff & Phelps Utility and Infrastructure Fund Price Performance

DPG traded down $0.01 during trading hours on Thursday, reaching $13.95. 63,968 shares of the company’s stock traded hands, compared to its average volume of 77,697. The firm has a 50-day moving average price of $13.50 and a 200 day moving average price of $14.23. Duff & Phelps Utility and Infrastructure Fund has a 52-week low of $12.53 and a 52-week high of $15.15.

Duff & Phelps Utility and Infrastructure Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.0750 per share. This represents a $0.90 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Thursday, December 31st.

Duff & Phelps Utility and Infrastructure Fund Company Profile

Duff & Phelps Utility and Infrastructure Fund, Inc. is a closed-end investment company that seeks to provide investors with exposure to the global utility and infrastructure sectors. Rather than operating utility assets directly, the fund invests in a portfolio of companies involved in producing, transmitting, distributing and supplying electricity, natural gas and water, as well as businesses associated with communications, transportation and other infrastructure. The fund may invest in common stocks, preferred securities and other income-producing securities issued by utility and infrastructure companies.