David D. Grumhaus Jr., President and CEO of Duff & Phelps Utility & Infrastructure Fund Inc. (NYSE:DPG), has purchased 1,500 shares of the company's common stock. The shares were acquired on November 26 at a price of $12.32 each, totaling $18,480. Following this transaction, Grumhaus now directly owns 9,877 shares, including 377 shares acquired through a dividend reinvestment plan.
InvestingPro Insights
The recent insider purchase by David D. Grumhaus Jr. aligns with several positive trends for Duff & Phelps Utility & Infrastructure Fund Inc. (NYSE:DPG). According to InvestingPro data, DPG's stock has shown impressive momentum, with a 31.66% price total return over the past six months and a robust 44.34% year-to-date return as of the latest available data. This performance is particularly noteworthy given that the stock is trading near its 52-week high, at 99.76% of that peak.
InvestingPro Tips highlight that DPG pays a significant dividend to shareholders, with a current dividend yield of 6.8%. This attractive yield is supported by the fund's 14-year track record of maintaining dividend payments, which may be of interest to income-focused investors. The stock's low price volatility, another InvestingPro Tip, suggests a potentially stable investment option in the utility and infrastructure sector.
For investors considering DPG, it's worth noting that InvestingPro offers 7 additional tips that could provide further insights into the fund's performance and outlook. These additional tips, available with an InvestingPro subscription, could offer a more comprehensive view of DPG's investment potential in the context of its recent insider buying activity and strong market performance.
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