DNP Select Income Fund (NYSE:DNP) Shares Cross Above 200 Day Moving Average – Should You Sell?

DNP Select Income Fund Inc. (NYSE:DNP)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.24 and traded as high as $10.75. DNP Select Income Fund shares last traded at $10.6950, with a volume of 579,158 shares changing hands.

DNP Select Income Fund Trading Down 1.1%

The stock’s 50-day moving average is $10.45 and its two-hundred day moving average is $10.25.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 7.3%.

Hedge Funds Weigh In On DNP Select Income Fund

Institutional investors have recently made changes to their positions in the business. Safe Harbor Fiduciary LLC bought a new position in shares of DNP Select Income Fund in the 4th quarter worth approximately $28,000. Ameriflex Group Inc. lifted its stake in shares of DNP Select Income Fund by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company’s stock worth $30,000 after purchasing an additional 1,500 shares during the period. Parallel Advisors LLC bought a new position in shares of DNP Select Income Fund in the 4th quarter worth approximately $32,000. Spire Wealth Management lifted its stake in shares of DNP Select Income Fund by 84.9% in the 4th quarter. Spire Wealth Management now owns 3,400 shares of the investment management company’s stock worth $34,000 after purchasing an additional 1,561 shares during the period. Finally, Smithfield Trust Co bought a new position in shares of DNP Select Income Fund in the 4th quarter worth approximately $33,000. 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.