DNP Select Income Fund (NYSE:DNP) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

DNP Select Income Fund Inc. (NYSE:DNP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.33 and traded as high as $10.80. DNP Select Income Fund shares last traded at $10.7350, with a volume of 542,226 shares trading hands.

DNP Select Income Fund Price Performance

The firm has a 50-day simple moving average of $10.64 and a 200 day simple moving average of $10.33.

DNP Select Income Fund Dividend Announcement

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

Institutional Investors Weigh In On DNP Select Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of DNP Select Income Fund by 4.2% in the first quarter. Royal Bank of Canada now owns 3,229,721 shares of the investment management company’s stock valued at $33,266,000 after buying an additional 131,646 shares during the period. LPL Financial LLC increased its stake in shares of DNP Select Income Fund by 16.3% in the fourth quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company’s stock valued at $30,579,000 after buying an additional 430,094 shares during the period. Cetera Investment Advisers increased its stake in shares of DNP Select Income Fund by 1.3% in the first quarter. Cetera Investment Advisers now owns 1,530,527 shares of the investment management company’s stock valued at $15,764,000 after buying an additional 19,122 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of DNP Select Income Fund by 3.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,497,243 shares of the investment management company’s stock valued at $14,957,000 after buying an additional 47,974 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in shares of DNP Select Income Fund by 1.3% in the fourth quarter. J.W. Cole Advisors Inc. now owns 1,129,972 shares of the investment management company’s stock valued at $11,288,000 after buying an additional 14,173 shares during the period. Institutional investors and hedge funds 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.