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 Friday . The stock has a 200-day moving average of $9.93 and traded as high as $10.09. DNP Select Income Fund shares last traded at $10.0450, with a volume of 391,950 shares changing hands.

DNP Select Income Fund Price Performance

The business has a 50 day moving average price of $10.09 and a two-hundred day moving average price of $9.93.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Tuesday, March 31st.

Hedge Funds Weigh In On DNP Select Income Fund

Several hedge funds have recently modified their holdings of DNP. First National Advisers LLC grew its stake in DNP Select Income Fund by 11.3% during the third quarter. First National Advisers LLC now owns 11,196 shares of the investment management company’s stock valued at $112,000 after acquiring an additional 1,137 shares in the last quarter. Scotia Capital Inc. boosted its holdings in shares of DNP Select Income Fund by 0.9% during the 3rd quarter. Scotia Capital Inc. now owns 138,589 shares of the investment management company’s stock valued at $1,387,000 after purchasing an additional 1,204 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of DNP Select Income Fund by 4.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 32,434 shares of the investment management company’s stock valued at $318,000 after purchasing an additional 1,246 shares during the last quarter. Global Assets Advisory LLC grew its position in shares of DNP Select Income Fund by 11.6% during the second quarter. Global Assets Advisory LLC now owns 11,995 shares of the investment management company’s stock valued at $117,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in shares of DNP Select Income Fund by 2.0% in the third quarter. Tortoise Investment Management LLC now owns 65,100 shares of the investment management company’s stock worth $652,000 after purchasing an additional 1,262 shares during the last quarter. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Company Profile

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.