DNP Select Income Fund (NYSE:DNP) Share Price Passes Above 200-Day Moving Average – What’s Next?

DNP Select Income Fund Inc. (NYSE:DNP) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.68 and traded as high as $10.80. DNP Select Income Fund shares last traded at $10.73, with a volume of 530,793 shares.

DNP Select Income Fund Trading Down 0.2%

The company’s fifty day simple moving average is $10.91 and its 200-day simple moving average is $10.69.

DNP Select Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th will be issued a $0.065 dividend. This represents a c) annualized dividend and a yield of 7.3%. The ex-dividend date is Wednesday, September 30th.

Hedge Funds Weigh In On DNP Select Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in DNP Select Income Fund by 19.1% in the 1st quarter. Bank of America Corp DE now owns 1,049,369 shares of the investment management company’s stock valued at $10,809,000 after purchasing an additional 168,439 shares in the last quarter. Commerce Bank purchased a new position in shares of DNP Select Income Fund in the second quarter worth about $1,790,000. Kingsview Wealth Management LLC acquired a new position in DNP Select Income Fund during the second quarter worth about $3,003,000. N.E.W. Advisory Services LLC purchased a new stake in DNP Select Income Fund during the 2nd quarter valued at about $5,876,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in DNP Select Income Fund during the 2nd quarter valued at about $1,499,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Company Profile

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.