DNP Select Income Fund (NYSE:DNP) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

DNP Select Income Fund Inc. (NYSE:DNP)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.09 and traded as high as $10.39. DNP Select Income Fund shares last traded at $10.2250, with a volume of 469,333 shares trading hands.

DNP Select Income Fund Trading Up 0.7%

The company has a 50 day simple moving average of $10.22 and a 200 day simple moving average of $10.10.

Insider Activity

In other DNP Select Income Fund news, Director Mark G. Kahrer bought 20,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average price of $10.21 per share, with a total value of $204,200.00. Following the completion of the acquisition, the director directly owned 23,000 shares of the company’s stock, valued at $234,830. This represents a 666.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On DNP Select Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of DNP. Safe Harbor Fiduciary LLC acquired a new stake in DNP Select Income Fund in the 4th quarter valued at about $28,000. Ameriflex Group Inc. boosted its holdings in shares of DNP Select Income Fund by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company’s stock worth $30,000 after purchasing an additional 1,500 shares during the last quarter. Parallel Advisors LLC acquired a new position in shares of DNP Select Income Fund during the 4th quarter worth approximately $32,000. Smithfield Trust Co purchased a new stake in shares of DNP Select Income Fund in the fourth quarter valued at approximately $33,000. Finally, Spire Wealth Management increased its holdings in shares of DNP Select Income Fund by 84.9% in the fourth quarter. Spire Wealth Management now owns 3,400 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 1,561 shares during the last quarter. 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.