DNP Select Income Fund (NYSE:DNP) Shares Pass Above 200-Day Moving Average – Time to Sell?

DNP Select Income Fund Inc. (NYSE:DNP) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.24 and traded as high as $10.75. DNP Select Income Fund shares last traded at $10.6950, with a volume of 579,158 shares.

DNP Select Income Fund Trading Down 0.0%

The stock has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $10.24.

DNP Select Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 10th. Shareholders 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 yield of 7.3%. The ex-dividend date is Tuesday, June 30th.

Institutional Trading of DNP Select Income Fund

A number of institutional investors have recently bought and sold shares of DNP. Northwestern Mutual Wealth Management Co. boosted its position in DNP Select Income Fund by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,444 shares of the investment management company’s stock worth $171,000 after purchasing an additional 2,568 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of DNP Select Income Fund by 3.2% in the second quarter. Cresset Asset Management LLC now owns 41,953 shares of the investment management company’s stock worth $413,000 after acquiring an additional 1,312 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of DNP Select Income Fund by 31.4% in the second quarter. NewEdge Advisors LLC now owns 52,318 shares of the investment management company’s stock worth $512,000 after acquiring an additional 12,499 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of DNP Select Income Fund in the second quarter worth $115,000. Finally, Raymond James Financial Inc. raised its holdings in shares of DNP Select Income Fund by 5.4% in the second quarter. Raymond James Financial Inc. now owns 962,109 shares of the investment management company’s stock worth $9,419,000 after acquiring an additional 48,905 shares during the last quarter. 8.51% of the stock is currently 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.