DNP Select Income Fund (NYSE:DNP) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

DNP Select Income Fund Inc. (NYSE:DNP)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.68 and traded as high as $10.80. DNP Select Income Fund shares last traded at $10.73, with a volume of 530,793 shares traded.

DNP Select Income Fund Stock Performance

The company’s 50-day simple moving average is $10.91 and its 200-day simple moving average is $10.68.

DNP Select Income Fund Announces Dividend

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 paid a $0.065 dividend. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Wednesday, September 30th.

Institutional Investors Weigh In On DNP Select Income Fund

A number of institutional investors have recently added to or reduced their stakes in the business. Axiom Investment Management LLC acquired a new stake in shares of DNP Select Income Fund in the first quarter valued at about $25,000. Safe Harbor Fiduciary LLC acquired a new position in DNP Select Income Fund during the fourth quarter worth about $28,000. Global Retirement Partners LLC purchased a new stake in shares of DNP Select Income Fund in the second quarter valued at about $31,000. Parallel Advisors LLC acquired a new stake in shares of DNP Select Income Fund in the fourth quarter valued at approximately $32,000. Finally, Smithfield Trust Co acquired a new position in shares of DNP Select Income Fund during the 4th quarter worth approximately $33,000. 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.