DNP Select Income Fund (NYSE:DNP) Stock Passes Above 200 Day Moving Average – Time to Sell?

DNP Select Income Fund Inc. (NYSE:DNP) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.12 and traded as high as $10.23. DNP Select Income Fund shares last traded at $10.1980, with a volume of 800,159 shares traded.

DNP Select Income Fund Stock Performance

The firm has a 50-day moving average of $10.27 and a 200-day moving average of $10.12.

DNP Select Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Tuesday, June 30th.

Insider Activity

In related news, Director Mark G. Kahrer acquired 20,000 shares of DNP Select Income Fund stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average price of $10.21 per share, for a total transaction of $204,200.00. Following the completion of the transaction, the director directly owned 23,000 shares in the company, valued at approximately $234,830. This represents a 666.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DNP Select Income Fund

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in DNP Select Income Fund by 10.9% in the 4th quarter. Royal Bank of Canada now owns 3,098,075 shares of the investment management company’s stock valued at $30,950,000 after acquiring an additional 305,028 shares during the last quarter. LPL Financial LLC lifted its stake in DNP Select Income Fund by 16.3% in the 4th quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company’s stock worth $30,579,000 after purchasing an additional 430,094 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of DNP Select Income Fund by 0.6% during 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 purchasing an additional 10,413 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of 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 valued at $14,864,000 after purchasing an additional 80,838 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of DNP Select Income Fund by 2.1% during the fourth quarter. Cetera Investment Advisers now owns 1,511,405 shares of the investment management company’s stock valued at $15,099,000 after purchasing an additional 31,034 shares in the last quarter. 8.51% of the stock is owned by hedge funds and other institutional investors.

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.