DNP Select Income Fund (NYSE:DNP) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• DNP crossed above its 200-day moving average, trading as high as $10.54 (200-day MA $10.15) and last at $10.4850 on volume of 584,847 shares, signaling a potential technical uptick.
• Monthly dividend declared: $0.065 per share (annualized yield ~7.4%), with an ex-dividend date of June 30 and payment on July 10.
• Insider buying noted: Director Mark G. Kahrer purchased 20,000 shares at an average $10.21, raising his stake to 23,000 shares; insiders own 0.02% while institutional ownership is about 8.51%.

DNP Select Income Fund Inc. (NYSE:DNP - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.15 and traded as high as $10.54. DNP Select Income Fund shares last traded at $10.4850, with a volume of 584,847 shares traded.

DNP Select Income Fund Trading Up 0.0%

The business's 50-day moving average price is $10.34 and its two-hundred day moving average price is $10.15.

DNP Select Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

Insider Buying and Selling at DNP Select Income Fund

In other news, Director Mark G. Kahrer purchased 20,000 shares of DNP Select Income Fund stock in a transaction dated Wednesday, February 11th. The shares were bought at an average cost of $10.21 per share, with a total value of $204,200.00. Following the completion of the transaction, the director directly owned 23,000 shares in the company, valued at $234,830. This trade represents a 666.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DNP Select Income Fund

Several institutional investors have recently added to or reduced their stakes in DNP. Safe Harbor Fiduciary LLC bought a new stake in DNP Select Income Fund in the 4th quarter valued at $28,000. Ameriflex Group Inc. lifted its position in DNP Select Income Fund by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company's stock valued at $30,000 after acquiring an additional 1,500 shares in the last quarter. Parallel Advisors LLC bought a new stake in DNP Select Income Fund in the 4th quarter valued at $32,000. Smithfield Trust Co bought a new stake in DNP Select Income Fund in the 4th quarter valued at $33,000. Finally, Spire Wealth Management lifted its position in DNP Select Income Fund by 84.9% in the 4th quarter. Spire Wealth Management now owns 3,400 shares of the investment management company's stock valued at $34,000 after acquiring an additional 1,561 shares in the last quarter. 8.51% of the stock is owned by 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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