DNP Select Income Fund (NYSE:DNP) Stock Passes Above 200 Day Moving Average – Here’s Why

DNP Select Income Fund Inc. (NYSE:DNP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.96 and traded as high as $10.05. DNP Select Income Fund shares last traded at $10.0150, with a volume of 580,972 shares.

DNP Select Income Fund Trading Down 0.3%

The stock’s fifty day moving average is $10.05 and its 200 day moving average is $9.96.

DNP Select Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. First National Advisers LLC lifted its position in shares of DNP Select Income Fund by 11.3% during the 3rd quarter. First National Advisers LLC now owns 11,196 shares of the investment management company’s stock valued at $112,000 after buying an additional 1,137 shares in the last quarter. Scotia Capital Inc. increased its holdings in DNP Select Income Fund by 0.9% in the 3rd quarter. Scotia Capital Inc. now owns 138,589 shares of the investment management company’s stock worth $1,387,000 after acquiring an additional 1,204 shares in the last quarter. Farther Finance Advisors LLC raised its stake in DNP Select Income Fund by 4.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 32,434 shares of the investment management company’s stock worth $318,000 after acquiring an additional 1,246 shares during the period. Global Assets Advisory LLC lifted its holdings in DNP Select Income Fund by 11.6% during the second quarter. Global Assets Advisory LLC now owns 11,995 shares of the investment management company’s stock valued at $117,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in DNP Select Income Fund by 2.0% during the third quarter. Tortoise Investment Management LLC now owns 65,100 shares of the investment management company’s stock valued at $652,000 after purchasing an additional 1,262 shares in the last quarter. Institutional investors own 8.51% of the company’s stock.

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.