DNP Select Income Fund (NYSE:DNP) Hits New 12-Month High - Here's Why

Key Points

• 52-week high: DNP Select Income Fund hit a new 52-week high of $10.84 (last $10.8050) on Wednesday, trading 45,883 shares, with a 50‑day moving average of $10.41 and a 200‑day moving average of $10.20.
• Monthly dividend: The fund declared a $0.065 per‑share monthly dividend payable July 10 (record date June 30), implying an annualized yield of about 7.2%.
• Insider and institutional buying: Director Mark G. Kahrer bought 20,000 shares at $10.21 (raising his holdings to 23,000), while multiple institutions—including N.E.W. Advisory, LPL Financial and RBC—substantially increased stakes, with hedge funds owning roughly 8.51% of the stock.

DNP Select Income Fund Inc. (NYSE:DNP - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $10.84 and last traded at $10.8050, with a volume of 45883 shares traded. The stock had previously closed at $10.77.

DNP Select Income Fund Price Performance

The business's 50-day moving average is $10.41 and its 200 day moving average is $10.20.

DNP Select Income Fund Announces Dividend

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

Insider Buying and Selling

In other news, Director Mark G. Kahrer purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average cost of $10.21 per share, for a total transaction of $204,200.00. Following the acquisition, the director directly owned 23,000 shares of the company's stock, valued at $234,830. This represents a 666.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DNP. N.E.W. Advisory Services LLC increased its position in DNP Select Income Fund by 414.2% during the 4th 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 purchasing an additional 526,009 shares during the period. LPL Financial LLC increased its position in DNP Select Income Fund by 16.3% during the 4th quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company's stock valued at $30,579,000 after purchasing an additional 430,094 shares during the period. Royal Bank of Canada increased its position in DNP Select Income Fund by 10.9% during the 4th quarter. Royal Bank of Canada now owns 3,098,075 shares of the investment management company's stock valued at $30,950,000 after purchasing an additional 305,028 shares during the period. Alchemi Wealth LLC purchased a new position in DNP Select Income Fund during the 4th quarter valued at $2,489,000. Finally, Align Financial LLC purchased a new position in DNP Select Income Fund during the 4th quarter valued at $2,352,000. 8.51% of the stock is owned by hedge funds and other institutional investors.

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.

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