DNP Select Income Fund (NYSE:DNP) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

DNP Select Income Fund Inc. (NYSE:DNP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.27 and traded as high as $10.82. DNP Select Income Fund shares last traded at $10.8150, with a volume of 686,522 shares.

DNP Select Income Fund Stock Up 0.2%

The firm’s 50-day moving average price is $10.48 and its 200 day moving average price is $10.27.

DNP Select Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 7.2%.

Hedge Funds Weigh In On DNP Select Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Safe Harbor Fiduciary LLC acquired a new position in shares of DNP Select Income Fund in the 4th quarter valued at approximately $28,000. Ameriflex Group Inc. raised its position 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 valued at $30,000 after buying an additional 1,500 shares in the last quarter. Parallel Advisors LLC acquired a new position in shares of DNP Select Income Fund in the 4th quarter valued at approximately $32,000. Spire Wealth Management raised its position 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 valued at $34,000 after buying an additional 1,561 shares in the last quarter. Finally, Smithfield Trust Co acquired a new position in shares of DNP Select Income Fund in the 4th quarter valued at approximately $33,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.

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.