Cornerstone Advisors LLC Lowers Stake in Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG)

Cornerstone Advisors LLC cut its holdings in shares of Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) by 95.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,378 shares of the investment management company’s stock after selling 730,258 shares during the quarter. Cornerstone Advisors LLC’s holdings in Duff & Phelps Utility and Infrastructure Fund were worth $368,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DPG. Blue Bell Private Wealth Management LLC grew its holdings in shares of Duff & Phelps Utility and Infrastructure Fund by 270.3% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 9,998 shares of the investment management company’s stock worth $98,000 after purchasing an additional 7,298 shares during the period. Cetera Advisors LLC boosted its holdings in Duff & Phelps Utility and Infrastructure Fund by 15.7% in the first quarter. Cetera Advisors LLC now owns 11,616 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 1,573 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Duff & Phelps Utility and Infrastructure Fund by 38.8% in the third quarter. Chicago Partners Investment Group LLC now owns 17,514 shares of the investment management company’s stock worth $205,000 after buying an additional 4,896 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Duff & Phelps Utility and Infrastructure Fund by 35.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 25,388 shares of the investment management company’s stock worth $243,000 after purchasing an additional 6,658 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in Duff & Phelps Utility and Infrastructure Fund during the second quarter valued at approximately $253,000.

Duff & Phelps Utility and Infrastructure Fund Stock Performance

Duff & Phelps Utility and Infrastructure Fund stock opened at $12.16 on Friday. The firm’s 50-day moving average is $11.62 and its 200-day moving average is $10.74. Duff & Phelps Utility and Infrastructure Fund Inc. has a 1 year low of $8.70 and a 1 year high of $12.19.

Duff & Phelps Utility and Infrastructure Fund Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a $0.07 dividend. The ex-dividend date was Thursday, October 31st. This represents a dividend yield of 7.39%.

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.