DNP Select Income Fund (NYSE:DNP) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

DNP Select Income Fund Inc. (NYSE:DNP)’s stock price crossed 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 trading hands.

DNP Select Income Fund Trading Down 0.1%

The business’s 50 day simple moving average is $10.05 and its 200 day simple moving average is $9.98.

DNP Select Income Fund Announces Dividend

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

Institutional Investors Weigh In On DNP Select Income Fund

Institutional investors have recently bought and sold shares of the business. N.E.W. Advisory Services LLC raised its holdings in 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 valued at $6,523,000 after acquiring an additional 526,009 shares during the period. Hoertkorn Richard Charles raised its stake in DNP Select Income Fund by 4.9% during the 4th quarter. Hoertkorn Richard Charles now owns 31,841 shares of the investment management company’s stock valued at $318,000 after purchasing an additional 1,475 shares during the period. Merit Financial Group LLC lifted its holdings in DNP Select Income Fund by 6.1% in the 4th quarter. Merit Financial Group LLC now owns 31,626 shares of the investment management company’s stock worth $316,000 after purchasing an additional 1,818 shares in the last quarter. J.M. Arbour LLC bought a new position in DNP Select Income Fund in the 4th quarter worth approximately $205,000. Finally, Private Trust Co. NA grew its holdings in DNP Select Income Fund by 85.7% during the 4th quarter. Private Trust Co. NA now owns 6,500 shares of the investment management company’s stock valued at $65,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors 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.