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

DNP Select Income Fund Inc. (NYSE:DNP)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.93 and traded as high as $10.09. DNP Select Income Fund shares last traded at $10.0450, with a volume of 391,950 shares.

DNP Select Income Fund Trading Down 0.2%

The stock has a fifty day simple moving average of $10.09 and a 200-day simple moving average of $9.93.

DNP Select Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 7.8%.

Hedge Funds Weigh In On DNP Select Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNP. Royal Bank of Canada lifted its holdings in shares of DNP Select Income Fund by 19.6% in the first quarter. Royal Bank of Canada now owns 2,538,820 shares of the investment management company’s stock valued at $25,109,000 after purchasing an additional 415,954 shares in the last quarter. Baird Financial Group Inc. lifted its stake in DNP Select Income Fund by 0.6% in the 2nd quarter. Baird Financial Group Inc. now owns 1,659,329 shares of the investment management company’s stock valued at $16,245,000 after acquiring an additional 10,413 shares in the last quarter. Osaic Holdings Inc. boosted its position in DNP Select Income Fund by 5.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,518,189 shares of the investment management company’s stock worth $14,864,000 after acquiring an additional 80,838 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in DNP Select Income Fund by 4.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,449,269 shares of the investment management company’s stock worth $14,507,000 after acquiring an additional 65,175 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of DNP Select Income Fund by 4.6% during the 2nd quarter. Cetera Investment Advisers now owns 1,440,398 shares of the investment management company’s stock worth $14,101,000 after acquiring an additional 63,375 shares in the last quarter. 8.51% of the stock is owned by institutional investors and hedge funds.

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.