DNP Select Income Fund (NYSE:DNP) Sees Unusually-High Trading Volume – What’s Next?

DNP Select Income Fund Inc. (NYSE:DNP) shares saw unusually-strong trading volume on Tuesday. 550,278 shares changed hands during trading, a decline of 22% from the previous session’s volume of 705,141 shares. The stock last traded at $9.9450 and had previously closed at $10.00.

DNP Select Income Fund Trading Down 0.4%

The business has a 50 day simple moving average of $10.42 and a two-hundred day simple moving average of $10.62.

DNP Select Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 31st will be given a $0.0650 dividend. The ex-dividend date is Thursday, December 31st. This represents a $0.78 annualized dividend and a dividend yield of 7.8%.

Institutional Investors Weigh In On DNP Select Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in DNP. Royal Bank of Canada boosted its holdings in DNP Select Income Fund by 4.2% in the first quarter. Royal Bank of Canada now owns 3,229,721 shares of the investment management company’s stock worth $33,266,000 after purchasing an additional 131,646 shares during the period. Baird Financial Group Inc. raised its holdings in shares of DNP Select Income Fund by 3.7% during the second quarter. Baird Financial Group Inc. now owns 2,151,985 shares of the investment management company’s stock worth $23,220,000 after purchasing an additional 76,179 shares during the period. Cetera Investment Advisers lifted its position in shares of DNP Select Income Fund by 1.3% in the 1st quarter. Cetera Investment Advisers now owns 1,530,527 shares of the investment management company’s stock worth $15,764,000 after buying an additional 19,122 shares during the last quarter. Bank of America Corp DE lifted its position in shares of DNP Select Income Fund by 19.1% in the 1st quarter. Bank of America Corp DE now owns 1,049,369 shares of the investment management company’s stock worth $10,809,000 after buying an additional 168,439 shares during the last quarter. Finally, Kentucky Trust Co boosted its holdings in shares of DNP Select Income Fund by 1.2% in the 2nd quarter. Kentucky Trust Co now owns 683,791 shares of the investment management company’s stock valued at $7,378,000 after buying an additional 8,295 shares during the period. 8.51% of the stock is owned by institutional investors and hedge funds.

About DNP Select Income Fund

DNP Select Income Fund Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund seeks to provide a high level of current income while also pursuing growth of income and long-term capital appreciation.

The fund invests primarily in securities issued by companies in the public utilities and infrastructure sectors. Its portfolio may include common and preferred stocks, bonds, and other income-producing securities of electric, gas, telecommunications, water, and related utility businesses.