DNP Select Income Fund (NYSE:DNP) Sets New 1-Year High - Time to Buy?

Key Points

• DNP Select Income Fund shares reached a new 1-year high of $10.07, reflecting a growth in trading activity with 291,828 shares exchanged.
• The fund declared a monthly dividend of $0.065 per share, with a 7.7% annualized dividend yield, set to be paid on January 12th.
• Institutional investors have been increasing their stakes in DNP Select Income Fund, indicating strong interest from financial professionals.

DNP Select Income Fund Inc. (NYSE:DNP - ) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.07 and last traded at $10.07, with a volume of 291828 shares changing hands. The stock had previously closed at $10.02.

DNP Select Income Fund Trading Up 0.4%

The company's fifty day simple moving average is $9.93 and its 200-day simple moving average is $9.75.

DNP Select Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, January 12th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.065 per share. The ex-dividend date is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new position in shares of DNP Select Income Fund in the second quarter valued at approximately $27,000. Private Trust Co. NA purchased a new stake in shares of DNP Select Income Fund during the 1st quarter worth approximately $35,000. City Holding Co. purchased a new stake in shares of DNP Select Income Fund during the 3rd quarter worth approximately $37,000. IFP Advisors Inc lifted its position in shares of DNP Select Income Fund by 25.6% during the 1st quarter. IFP Advisors Inc now owns 5,931 shares of the investment management company's stock worth $59,000 after buying an additional 1,210 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of DNP Select Income Fund during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 8.51% of the company's stock.

DNP Select Income Fund Company Profile

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.

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