DNP Select Income Fund (NYSE:DNP) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

DNP Select Income Fund Inc. (NYSE:DNP) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.09 and traded as high as $10.39. DNP Select Income Fund shares last traded at $10.2250, with a volume of 469,333 shares.

DNP Select Income Fund Trading Down 0.8%

The stock has a fifty day moving average of $10.21 and a 200-day moving average of $10.09.

Insiders Place Their Bets

In related news, Director Mark G. Kahrer bought 20,000 shares of the stock in a transaction on Wednesday, February 11th. The shares were bought at an average cost of $10.21 per share, for a total transaction of $204,200.00. Following the purchase, the director owned 23,000 shares of the company’s stock, valued at $234,830. This trade represents a 666.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On DNP Select Income Fund

Several large investors have recently modified their holdings of DNP. Envestnet Asset Management Inc. lifted its holdings in shares of DNP Select Income Fund by 13.3% during the second quarter. Envestnet Asset Management Inc. now owns 136,535 shares of the investment management company’s stock worth $1,337,000 after purchasing an additional 16,008 shares during the period. Midwest Trust Co acquired a new position in DNP Select Income Fund in the 2nd quarter valued at $227,000. Verus Capital Partners LLC raised its position 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 worth $1,232,000 after buying an additional 58,867 shares during the last quarter. PNC Financial Services Group Inc. raised its position in DNP Select Income Fund by 74.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 22,000 shares of the investment management company’s stock worth $215,000 after buying an additional 9,367 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in shares of DNP Select Income Fund by 2.9% in the 2nd quarter. Foundations Investment Advisors LLC now owns 411,719 shares of the investment management company’s stock worth $4,031,000 after acquiring an additional 11,587 shares during the period. 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.