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

DNP Select Income Fund Inc. (NYSE:DNP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.49 and traded as high as $11.12. DNP Select Income Fund shares last traded at $11.0250, with a volume of 507,797 shares.

DNP Select Income Fund Stock Down 0.4%

The firm’s 50 day moving average is $10.81 and its two-hundred day moving average is $10.49.

DNP Select Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be given a $0.065 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

Institutional Trading of DNP Select Income Fund

A number of hedge funds have recently bought and sold shares of the company. Axiom Investment Management LLC purchased a new stake in shares of DNP Select Income Fund in the first quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new position in DNP Select Income Fund during the fourth quarter worth about $28,000. Parallel Advisors LLC purchased a new position in DNP Select Income Fund during the fourth quarter worth about $32,000. Smithfield Trust Co acquired a new stake in DNP Select Income Fund in the 4th quarter worth about $33,000. Finally, Spire Wealth Management boosted its stake in DNP Select Income Fund by 84.9% in the 4th quarter. Spire Wealth Management now owns 3,400 shares of the investment management company’s stock worth $34,000 after buying an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 8.51% of the company’s stock.

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.