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

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPGGet Rating) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 137,900 shares, an increase of 175.8% from the April 30th total of 50,000 shares. Based on an average daily volume of 97,400 shares, the days-to-cover ratio is presently 1.4 days.

Several large investors have recently added to or reduced their stakes in DPG. Bank of America Corp DE boosted its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 8.3% during the second quarter. Bank of America Corp DE now owns 63,228 shares of the investment management company’s stock valued at $906,000 after purchasing an additional 4,839 shares during the period. Morgan Stanley lifted its stake in Duff & Phelps Utility and Infrastructure Fund by 4.1% in the second quarter. Morgan Stanley now owns 1,563,131 shares of the investment management company’s stock worth $22,384,000 after acquiring an additional 61,762 shares during the period. Golden State Equity Partners lifted its stake in Duff & Phelps Utility and Infrastructure Fund by 5.2% in the third quarter. Golden State Equity Partners now owns 91,355 shares of the investment management company’s stock worth $1,226,000 after acquiring an additional 4,549 shares during the period. Royal Bank of Canada lifted its stake in Duff & Phelps Utility and Infrastructure Fund by 1.8% in the third quarter. Royal Bank of Canada now owns 250,506 shares of the investment management company’s stock worth $3,361,000 after acquiring an additional 4,443 shares during the period. Finally, LPL Financial LLC lifted its stake in Duff & Phelps Utility and Infrastructure Fund by 73.3% in the third quarter. LPL Financial LLC now owns 213,073 shares of the investment management company’s stock worth $2,859,000 after acquiring an additional 90,128 shares during the period.

Shares of NYSE:DPG traded up $0.24 during trading on Friday, reaching $15.59. 78,321 shares of the company traded hands, compared to its average volume of 97,986. Duff & Phelps Utility and Infrastructure Fund has a 52-week low of $13.22 and a 52-week high of $15.68. The business’s fifty day moving average is $14.89 and its 200-day moving average is $14.46.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.98%. The ex-dividend date is Tuesday, June 14th.

Duff & Phelps Utility and Infrastructure Fund Company Profile (Get Rating)

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.

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