Snatch Shares of DPG 17.1% Cheaper Than the CEO Did

By Dividend Channel Staff, Wednesday, November 1, 1:18 PM ET

Start slideshow:
10 Dividend Bargains You Can Buy Cheaper Than Insiders Did »

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on July 31, Duff & Phelps Global Utility Income Fund's CEO, David D. Grumhaus Jr., invested $25,025.00 into 2,500 shares of DPG, for a cost per share of $10.01. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Wednesday, bargain hunters could buy shares of Duff & Phelps Global Utility Income Fund (NYSE:DPG) and achieve a cost basis 17.1% cheaper than Grumhaus Jr., with shares changing hands as low as $8.30 per share. It should be noted that Grumhaus Jr. has collected $0.21/share in dividends since the time of their purchase, so they are currently down 15.0% on their purchase from a total return basis. Duff & Phelps Global Utility Income Fund shares are currently trading up about 1.3% on the day. The chart below shows the one year performance of DPG shares, versus its 200 day moving average:

Duff & Phelps Global Utility Income Fund Chart

Looking at the chart above, DPG's low point in its 52 week range is $7.90 per share, with $14.29 as the 52 week high point — that compares with a last trade of $8.38. By comparison, below is a table showing the prices at which DPG insider buying was recorded over the last six months:

Purchased	Insider	Title	Shares	Price/Share	Value
06/16/2023	David D. Grumhaus Jr.	President and CEO	2,500	$10.08	$25,200.00
06/16/2023	Eric Elvekrog	VP & Chief Investment Officer	3,000	$10.07	$30,210.00
07/31/2023	David D. Grumhaus Jr.	President and CEO	2,500	$10.01	$25,025.00

The current annualized dividend paid by Duff & Phelps Global Utility Income Fund is $0.84/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 12/14/2023. Below is a long-term dividend history chart for DPG, which can be of good help in judging whether the most recent dividend with approx. 10.2% annualized yield is likely to continue.

Free Report: Top 8%+ Dividends (paid monthly)

This Article's Word Cloud: Arial Back Bargain Bargains Below Cheaper Chief David Dividend Dividends Duff Elvekrog Fund Global Grumhaus Income Phelps President Utility about annualized basis below buying chart cost currently dividend escape fillColor hunters insider last most only paid point purchase reason recent share shares stock that their they trading week which with

Snatch Shares of DPG 17.1% Cheaper Than the CEO Did

Snatch Shares of DPG 17.1% Cheaper Than the CEO Did | www.DividendChannel.com