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DNP Select Income Fund (NYSE:DNP) Reaches New 1-Year High - Should You Buy?

DNP Select Income Fund logo with Finance background

Key Points

  • DNP Select Income Fund Inc. has reached a new 52-week high, trading at $10.04 before closing at $9.99 with a trading volume of 48,561 shares.
  • Recent investments from hedge funds show increasing interest, with notable new positions acquired by several firms in the past quarters.
  • The fund, managed by Duff & Phelps Investment Management, invests in both equity and fixed income markets in the United States.
  • MarketBeat previews the top five stocks to own by October 1st.

DNP Select Income Fund Inc. (NYSE:DNP - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $10.04 and last traded at $9.99, with a volume of 48561 shares. The stock had previously closed at $10.00.

DNP Select Income Fund Stock Performance

The business has a fifty day moving average price of $9.82 and a two-hundred day moving average price of $9.68.

Hedge Funds Weigh In On DNP Select Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new position in DNP Select Income Fund during the 2nd quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new stake in DNP Select Income Fund in the 4th quarter valued at about $34,000. Private Trust Co. NA acquired a new stake in DNP Select Income Fund in the 1st quarter valued at about $35,000. Menard Financial Group LLC acquired a new stake in DNP Select Income Fund in the 4th quarter valued at about $55,000. Finally, IFP Advisors Inc raised its position in DNP Select Income Fund by 25.6% in the 1st quarter. IFP Advisors Inc now owns 5,931 shares of the investment management company's stock valued at $59,000 after purchasing an additional 1,210 shares in the last quarter. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

About DNP Select Income Fund

(Get Free Report)

DNP Select Income Fund Inc is a closed ended balanced mutual fund launched by Virtus Investment Partners, Inc The fund is managed by Duff & Phelps Investment Management Co It invests in the public equity and fixed income markets of the United States. For the fixed income portion, the fund invests in bonds.

Further Reading

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