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

Key Points

• DNP Select Income Fund shares crossed above their 200-day moving average of $10.54, reaching $11.05 before closing at $10.9750 on volume of 621,439 shares.
• The fund declared a monthly dividend of $0.065 per share, payable October 13 to shareholders of record September 30, representing an annualized yield of approximately 7.1%.
• Institutional investors increased their positions, while the fund continues to focus primarily on income-producing energy infrastructure securities, especially midstream master limited partnerships.

DNP Select Income Fund Inc. (NYSE:DNP - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.54 and traded as high as $11.05. DNP Select Income Fund shares last traded at $10.9750, with a volume of 621,439 shares traded.

DNP Select Income Fund Price Performance

The company has a 50-day moving average price of $10.85 and a 200-day moving average price of $10.54.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be given a $0.065 dividend. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in DNP Select Income Fund by 4.2% during the first quarter. Royal Bank of Canada now owns 3,229,721 shares of the investment management company's stock worth $33,266,000 after acquiring an additional 131,646 shares during the period. LPL Financial LLC grew its position in DNP Select Income Fund by 16.3% in the 4th quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company's stock worth $30,579,000 after purchasing an additional 430,094 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of DNP Select Income Fund by 1.3% during the 1st quarter. Cetera Investment Advisers now owns 1,530,527 shares of the investment management company's stock worth $15,764,000 after purchasing an additional 19,122 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of DNP Select Income Fund by 3.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,497,243 shares of the investment management company's stock worth $14,957,000 after purchasing an additional 47,974 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in shares of DNP Select Income Fund by 1.3% during the fourth quarter. J.W. Cole Advisors Inc. now owns 1,129,972 shares of the investment management company's stock valued at $11,288,000 after buying an additional 14,173 shares during the last quarter. 8.51% of the stock is currently owned by institutional investors and hedge funds.

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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