LPL Financial LLC Lowers Holdings in Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG)

LPL Financial LLC cut its position in Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,275 shares of the investment management company’s stock after selling 3,478 shares during the quarter. LPL Financial LLC’s holdings in Duff & Phelps Utility and Infrastructure Fund were worth $3,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of DPG. Farther Finance Advisors LLC bought a new stake in Duff & Phelps Utility and Infrastructure Fund during the first quarter valued at approximately $43,000. NBC Securities Inc. lifted its position in Duff & Phelps Utility and Infrastructure Fund by 108,900.0% during the first quarter. NBC Securities Inc. now owns 5,450 shares of the investment management company’s stock valued at $66,000 after purchasing an additional 5,445 shares during the last quarter. Catalina Capital Group LLC bought a new stake in Duff & Phelps Utility and Infrastructure Fund during the first quarter valued at approximately $135,000. B. Riley Wealth Advisors Inc. lifted its position in Duff & Phelps Utility and Infrastructure Fund by 9.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 12,081 shares of the investment management company’s stock valued at $142,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Nwam LLC lifted its position in Duff & Phelps Utility and Infrastructure Fund by 43.7% during the first quarter. Nwam LLC now owns 16,766 shares of the investment management company’s stock valued at $205,000 after purchasing an additional 5,096 shares during the last quarter.

Duff & Phelps Utility and Infrastructure Fund Trading Down 0.2%

Shares of Duff & Phelps Utility and Infrastructure Fund stock opened at $12.66 on Friday. Duff & Phelps Utility and Infrastructure Fund Inc. has a 1 year low of $10.45 and a 1 year high of $12.83. The company has a 50 day simple moving average of $12.42 and a two-hundred day simple moving average of $12.12.

Duff & Phelps Utility and Infrastructure Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a c) annualized dividend and a dividend yield of 6.6%.

Insider Activity at Duff & Phelps Utility and Infrastructure Fund

In other news, major shareholder Metlife Investment Management, bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average cost of $25.00 per share, with a total value of $25,000,000.00. Following the completion of the purchase, the insider directly owned 748,000 shares in the company, valued at $18,700,000. This represents a -396.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

About Duff & Phelps Utility and Infrastructure Fund

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.