DNP Select Income Fund (NYSE:DNP) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

DNP Select Income Fund Inc. (NYSE:DNP – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.33 and traded as high as $10.80. DNP Select Income Fund shares last traded at $10.7350, with a volume of 542,226 shares changing hands.

DNP Select Income Fund Price Performance

The stock’s fifty day simple moving average is $10.65 and its two-hundred day simple moving average is $10.34.

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DNP Select Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a $0.065 dividend. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Tuesday, June 30th.

Institutional Investors Weigh In On DNP Select Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Providence First Trust Co lifted its stake in DNP Select Income Fund by 135.8% during the fourth quarter. Providence First Trust Co now owns 206,438 shares of the investment management company’s stock valued at $2,062,000 after buying an additional 118,905 shares in the last quarter. N.E.W. Advisory Services LLC lifted its stake in DNP Select Income Fund by 414.2% during the fourth quarter. N.E.W. Advisory Services LLC now owns 653,002 shares of the investment management company’s stock valued at $6,523,000 after buying an additional 526,009 shares in the last quarter. Foguth Wealth Management LLC. purchased a new stake in DNP Select Income Fund during the fourth quarter valued at about $865,000. Arlington Capital Management Inc. lifted its stake in DNP Select Income Fund by 136.8% during the fourth quarter. Arlington Capital Management Inc. now owns 97,280 shares of the investment management company’s stock valued at $972,000 after buying an additional 56,207 shares in the last quarter. Finally, RDA Financial Network lifted its stake in DNP Select Income Fund by 46.8% during the fourth quarter. RDA Financial Network now owns 257,592 shares of the investment management company’s stock valued at $2,573,000 after buying an additional 82,161 shares in the last quarter. 8.51% of the stock is owned by institutional investors and hedge funds.

About DNP Select Income Fund

(Get Free Report)

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.

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