Wolverine Asset Management LLC Grows Holdings in Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG)

Wolverine Asset Management LLC lifted its stake in shares of Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,507 shares of the investment management company’s stock after buying an additional 37,589 shares during the quarter. Wolverine Asset Management LLC’s holdings in Duff & Phelps Utility and Infrastructure Fund were worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of DPG. Allspring Global Investments Holdings LLC purchased a new position in shares of Duff & Phelps Utility and Infrastructure Fund in the fourth quarter worth about $3,613,000. Cornerstone Advisors LLC purchased a new position in shares of Duff & Phelps Utility and Infrastructure Fund in the third quarter valued at $2,361,000. Saba Capital Management L.P. purchased a new stake in Duff & Phelps Utility and Infrastructure Fund during the third quarter valued at about $1,952,000. Landscape Capital Management L.L.C. grew its holdings in Duff & Phelps Utility and Infrastructure Fund by 98.6% during the third quarter. Landscape Capital Management L.L.C. now owns 280,068 shares of the investment management company’s stock valued at $2,414,000 after purchasing an additional 139,029 shares during the last quarter. Finally, Karpus Management Inc. lifted its position in Duff & Phelps Utility and Infrastructure Fund by 208.0% in the third quarter. Karpus Management Inc. now owns 205,047 shares of the investment management company’s stock worth $1,768,000 after purchasing an additional 138,474 shares during the period.

Insiders Place Their Bets

In related news, CEO David D. Jr. Grumhaus bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was bought at an average cost of $9.42 per share, for a total transaction of $28,260.00. Following the acquisition, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at approximately $75,360. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Duff & Phelps Utility and Infrastructure Fund Price Performance

DPG stock traded down $0.02 during midday trading on Wednesday, reaching $9.44. The stock had a trading volume of 158,887 shares, compared to its average volume of 144,591. Duff & Phelps Utility and Infrastructure Fund Inc. has a twelve month low of $7.90 and a twelve month high of $13.04. The business has a fifty day simple moving average of $9.22 and a two-hundred day simple moving average of $9.08.

Duff & Phelps Utility and Infrastructure Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.90%. The ex-dividend date is Monday, June 17th.

Duff & Phelps Utility and Infrastructure Fund 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.