Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) Short Interest Up 38.8% in May

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 20,400 shares, a growth of 38.8% from the May 15th total of 14,700 shares. Based on an average daily volume of 96,600 shares, the days-to-cover ratio is currently 0.2 days.

Duff & Phelps Utility and Infrastructure Fund Trading Down 0.4%

DPG stock opened at $12.25 on Tuesday. The firm has a 50 day moving average price of $12.13 and a 200-day moving average price of $11.91. Duff & Phelps Utility and Infrastructure Fund has a 52-week low of $9.48 and a 52-week high of $12.55.

Duff & Phelps Utility and Infrastructure Fund Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, June 2nd were given a dividend of $0.07 per share. This represents a dividend yield of 6.84%. The ex-dividend date was Friday, May 30th.

Insider Buying and Selling

In other news, major shareholder Metlife Investment Management, acquired 1,000,000 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were acquired at an average cost of $25.00 per share, with a total value of $25,000,000.00. Following the transaction, the insider now owns 748,000 shares in the company, valued at $18,700,000. The trade was a -396.83% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Integrity Alliance LLC. purchased a new stake in Duff & Phelps Utility and Infrastructure Fund in the 1st quarter worth $188,000. Concorde Asset Management LLC raised its position in Duff & Phelps Utility and Infrastructure Fund by 6.2% in the 1st quarter. Concorde Asset Management LLC now owns 46,300 shares of the investment management company’s stock worth $525,000 after purchasing an additional 2,700 shares during the period. Advisors Asset Management Inc. raised its position in Duff & Phelps Utility and Infrastructure Fund by 99.7% in the 1st quarter. Advisors Asset Management Inc. now owns 464,665 shares of the investment management company’s stock worth $5,683,000 after purchasing an additional 231,957 shares during the period. Landscape Capital Management L.L.C. bought a new position in Duff & Phelps Utility and Infrastructure Fund in the 1st quarter worth about $149,000. Finally, Cascade Investment Group Inc. grew its stake in Duff & Phelps Utility and Infrastructure Fund by 17.3% in the 1st quarter. Cascade Investment Group Inc. now owns 30,850 shares of the investment management company’s stock worth $377,000 after acquiring an additional 4,550 shares in the last quarter.

Duff & Phelps Utility and Infrastructure Fund Company Profile

Duff & Phelps Utility and Infrastructure Fund Inc is a closed-ended equity mutual fund launched by Virtus Investment Partners, Inc The fund is managed by Duff & Phelps Investment Management Co It invests in the public equity markets across the globe. The fund seeks to invest in the companies operating in utility sector.