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

Shares of DNP Select Income Fund Inc. (NYSE:DNP) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.96 and traded as high as $10.05. DNP Select Income Fund shares last traded at $10.0150, with a volume of 580,972 shares.

DNP Select Income Fund Trading Down 0.3%

The firm has a 50-day moving average price of $10.05 and a 200 day moving average price of $9.96.

DNP Select Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date is Tuesday, March 31st.

Institutional Investors Weigh In On DNP Select Income Fund

A number of hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its position in DNP Select Income Fund by 4.7% during the third quarter. Commonwealth Equity Services LLC now owns 1,449,269 shares of the investment management company’s stock valued at $14,507,000 after buying an additional 65,175 shares during the period. Verus Capital Partners LLC boosted its holdings in DNP Select Income Fund by 87.9% during the 2nd quarter. Verus Capital Partners LLC now owns 125,832 shares of the investment management company’s stock valued at $1,232,000 after acquiring an additional 58,867 shares during the period. Westbourne Investment Advisors Inc. bought a new position in DNP Select Income Fund during the 2nd quarter worth approximately $673,000. Sowell Financial Services LLC bought a new position in DNP Select Income Fund during the 3rd quarter worth approximately $2,211,000. Finally, Owen LaRue LLC increased its stake in DNP Select Income Fund by 46.5% in the 2nd quarter. Owen LaRue LLC now owns 359,822 shares of the investment management company’s stock worth $3,523,000 after purchasing an additional 114,285 shares during the period. 8.51% of the stock is currently owned by institutional investors.

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.