DNP Select Income Fund (NYSE:DNP) Hits New 1-Year High – What’s Next?

DNP Select Income Fund Inc. (NYSE:DNP) hit a new 52-week high on Thursday . The company traded as high as $10.90 and last traded at $10.8750, with a volume of 952864 shares traded. The stock had previously closed at $10.89.

DNP Select Income Fund Price Performance

The firm’s 50-day moving average is $10.54 and its 200 day moving average is $10.30.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 7.3%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. ST Germain D J Co. Inc. raised its holdings in shares of DNP Select Income Fund by 10.6% during the 4th quarter. ST Germain D J Co. Inc. now owns 10,400 shares of the investment management company’s stock worth $104,000 after acquiring an additional 1,000 shares during the period. GW Henssler & Associates Ltd. increased its position in shares of DNP Select Income Fund by 3.3% during the 4th quarter. GW Henssler & Associates Ltd. now owns 31,666 shares of the investment management company’s stock worth $316,000 after purchasing an additional 1,000 shares during the last quarter. Avantax Planning Partners Inc. grew its position in DNP Select Income Fund by 10.7% in the 1st quarter. Avantax Planning Partners Inc. now owns 12,438 shares of the investment management company’s stock valued at $128,000 after acquiring an additional 1,199 shares in the last quarter. Scotia Capital Inc. grew its position 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 valued at $1,387,000 after acquiring an additional 1,204 shares in the last quarter. Finally, Balanced Wealth Group LLC grew its position in DNP Select Income Fund by 4.1% in the 1st quarter. Balanced Wealth Group LLC now owns 31,571 shares of the investment management company’s stock valued at $325,000 after acquiring an additional 1,229 shares in the last quarter. 8.51% of the stock is currently 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.