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

Shares of DNP Select Income Fund Inc. (NYSE:DNP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.98 and traded as high as $10.17. DNP Select Income Fund shares last traded at $10.1250, with a volume of 471,547 shares traded.

DNP Select Income Fund Stock Down 0.1%

The business’s fifty day simple moving average is $10.05 and its 200-day simple moving average is $9.98.

DNP Select Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a $0.065 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Tuesday, March 31st.

Hedge Funds Weigh In On DNP Select Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in shares of DNP Select Income Fund during the 2nd quarter worth approximately $27,000. Ameriflex Group Inc. increased its position in DNP Select Income Fund by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company’s stock worth $30,000 after purchasing an additional 1,500 shares during the last quarter. Spire Wealth Management raised its stake in DNP Select Income Fund by 84.9% during the fourth quarter. Spire Wealth Management now owns 3,400 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 1,561 shares in the last quarter. City Holding Co. bought a new position in DNP Select Income Fund during the third quarter valued at $37,000. Finally, Private Wealth Asset Management LLC purchased a new position in shares of DNP Select Income Fund in the 3rd quarter worth $44,000. Hedge funds and other 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.