DNP Select Income Fund (NYSE:DNP) Sees Unusually-High Trading Volume – Time to Buy?

Shares of DNP Select Income Fund Inc. (NYSE:DNP) saw unusually-high trading volume on Wednesday . Approximately 556,104 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 681,755 shares.The stock last traded at $9.36 and had previously closed at $9.50.

DNP Select Income Fund Price Performance

The firm’s 50-day moving average is $9.22 and its 200-day moving average is $9.39.

DNP Select Income Fund Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a dividend of $0.065 per share. This represents a dividend yield of 8.24%. The ex-dividend date was Friday, January 31st.

Hedge Funds Weigh In On DNP Select Income Fund

Large investors have recently added to or reduced their stakes in the business. Safe Harbor Fiduciary LLC purchased a new stake in shares of DNP Select Income Fund in the third quarter worth approximately $28,000. Crews Bank & Trust bought a new position in DNP Select Income Fund during the 4th quarter valued at $29,000. UMB Bank n.a. purchased a new position in DNP Select Income Fund during the 4th quarter worth $34,000. Tandem Financial LLC purchased a new position in DNP Select Income Fund during the 4th quarter worth $34,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of DNP Select Income Fund in the 4th quarter worth $35,000. Institutional investors own 8.51% of the company’s stock.

About DNP Select Income Fund

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.