DNP Select Income Fund (NYSE:DNP) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

DNP Select Income Fund Inc. (NYSE:DNP)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.54 and traded as high as $11.05. DNP Select Income Fund shares last traded at $10.9750, with a volume of 621,439 shares.

DNP Select Income Fund Trading Down 1.7%

The firm has a 50-day moving average of $10.86 and a two-hundred day moving average of $10.55.

DNP Select Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%.

Hedge Funds Weigh In On DNP Select Income Fund

Several large investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC boosted 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 worth $6,523,000 after buying an additional 526,009 shares in the last quarter. LPL Financial LLC increased its holdings in DNP Select Income Fund by 16.3% in the fourth quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company’s stock valued at $30,579,000 after buying an additional 430,094 shares in the last quarter. Royal Bank of Canada increased its holdings in DNP Select Income Fund by 10.9% in the fourth quarter. Royal Bank of Canada now owns 3,098,075 shares of the investment management company’s stock valued at $30,950,000 after buying an additional 305,028 shares in the last quarter. Alchemi Wealth LLC acquired a new position in shares of DNP Select Income Fund in the fourth quarter worth about $2,489,000. Finally, Align Financial LLC acquired a new position in shares of DNP Select Income Fund in the fourth quarter worth about $2,352,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.

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.