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

DNP Select Income Fund Inc. (NYSE:DNP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.49 and traded as high as $11.12. DNP Select Income Fund shares last traded at $11.0250, with a volume of 507,797 shares.

DNP Select Income Fund Price Performance

The stock has a fifty day simple moving average of $10.81 and a two-hundred day simple moving average of $10.49.

DNP Select Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

Institutional Trading of DNP Select Income Fund

A number of institutional investors have recently bought and sold shares of the company. Axiom Investment Management LLC acquired a new position in DNP Select Income Fund during the first quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of DNP Select Income Fund in the fourth quarter valued at approximately $28,000. Parallel Advisors LLC acquired a new position in shares of DNP Select Income Fund during the 4th quarter worth approximately $32,000. Spire Wealth Management lifted its stake in DNP Select Income Fund by 84.9% in the 4th quarter. Spire Wealth Management now owns 3,400 shares of the investment management company’s stock valued at $34,000 after buying an additional 1,561 shares in the last quarter. Finally, Smithfield Trust Co purchased a new stake in DNP Select Income Fund in the 4th quarter valued at approximately $33,000. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

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.