DNP Select Income Fund (NYSE:DNP) Reaches New 12-Month High – Here’s What Happened

DNP Select Income Fund Inc. (NYSE:DNP) shares reached a new 52-week high during trading on Monday . The company traded as high as $11.04 and last traded at $11.0650, with a volume of 1046047 shares changing hands. The stock had previously closed at $10.99.

DNP Select Income Fund Price Performance

The firm has a 50-day moving average of $10.78 and a two-hundred day moving average of $10.46.

DNP Select Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be paid a $0.065 dividend. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Wednesday, September 30th.

Institutional Trading of DNP Select Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of DNP. Providence First Trust Co lifted its stake in DNP Select Income Fund by 135.8% during the fourth quarter. Providence First Trust Co now owns 206,438 shares of the investment management company’s stock worth $2,062,000 after purchasing an additional 118,905 shares in the last quarter. N.E.W. Advisory Services LLC boosted its position in shares of DNP Select Income Fund by 414.2% during the fourth quarter. N.E.W. Advisory Services LLC now owns 653,002 shares of the investment management company’s stock worth $6,523,000 after buying an additional 526,009 shares during the period. Foguth Wealth Management LLC. acquired a new stake in shares of DNP Select Income Fund in the fourth quarter valued at $865,000. Walser Wealth Management Company A Ltd Liability Co acquired a new stake in shares of DNP Select Income Fund in the fourth quarter valued at $852,000. Finally, Arlington Capital Management Inc. grew its stake in shares of DNP Select Income Fund by 136.8% in the fourth quarter. Arlington Capital Management Inc. now owns 97,280 shares of the investment management company’s stock valued at $972,000 after buying an additional 56,207 shares in the last quarter. 8.51% of the stock is owned by institutional investors and hedge funds.

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.