DNP Select Income Fund (NYSE:DNP) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

DNP Select Income Fund Inc. (NYSE:DNP)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.49 and traded as high as $11.12. DNP Select Income Fund shares last traded at $11.0250, with a volume of 507,797 shares changing hands.

DNP Select Income Fund Stock Up 0.5%

The company has a 50-day simple moving average of $10.82 and a 200 day simple moving average of $10.49.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be paid a $0.065 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 7.1%.

Hedge Funds Weigh In On DNP Select Income Fund

Several large investors have recently bought and sold shares of DNP. Providence First Trust Co increased its holdings in shares of DNP Select Income Fund by 135.8% during the 4th quarter. Providence First Trust Co now owns 206,438 shares of the investment management company’s stock worth $2,062,000 after purchasing an additional 118,905 shares during the period. N.E.W. Advisory Services LLC lifted its stake in shares of DNP Select Income Fund by 414.2% in the fourth quarter. N.E.W. Advisory Services LLC now owns 653,002 shares of the investment management company’s stock valued at $6,523,000 after buying an additional 526,009 shares during the period. Walser Wealth Management Company A Ltd Liability Co acquired a new stake in DNP Select Income Fund during the fourth quarter worth about $852,000. Verus Capital Partners LLC increased its stake in DNP Select Income Fund by 80.0% during the fourth quarter. Verus Capital Partners LLC now owns 262,188 shares of the investment management company’s stock valued at $2,619,000 after acquiring an additional 116,498 shares during the period. Finally, Independent Financial Group LLC acquired a new position in DNP Select Income Fund in the 1st quarter valued at approximately $907,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.

About DNP Select Income Fund

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund’s primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.