DNP Select Income Fund (NYSE:DNP) Sees Strong Trading Volume – What’s Next?

Shares of DNP Select Income Fund Inc. (NYSE:DNP) saw an uptick in trading volume on Friday . 765,235 shares were traded during trading, an increase of 10% from the previous session’s volume of 695,703 shares.The stock last traded at $9.17 and had previously closed at $8.93.

DNP Select Income Fund Price Performance

The stock’s 50-day moving average price is $9.29 and its 200-day moving average price is $9.19.

DNP Select Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 31st will be paid a $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date of this dividend is Friday, January 31st.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Safe Harbor Fiduciary LLC acquired a new stake in shares of DNP Select Income Fund during the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in DNP Select Income Fund during the 3rd quarter worth approximately $44,000. Future Financial Wealth Managment LLC acquired a new stake in DNP Select Income Fund during the 3rd quarter worth approximately $50,000. Larson Financial Group LLC bought a new stake in DNP Select Income Fund during the 3rd quarter worth approximately $54,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in DNP Select Income Fund by 13.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,647 shares of the investment management company’s stock valued at $79,000 after acquiring an additional 1,150 shares during the period. Institutional investors and hedge funds own 8.51% of the company’s stock.

DNP Select Income Fund Company Profile

DNP Select Income Fund Inc is a closed ended balanced mutual fund launched by Virtus Investment Partners, Inc The fund is managed by Duff & Phelps Investment Management Co It invests in the public equity and fixed income markets of the United States. For the fixed income portion, the fund invests in bonds.