DNP Select Income Fund (NYSE:DNP) Sets New 52-Week Low – Should You Sell?

DNP Select Income Fund Inc. (NYSE:DNP) shares reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $9.56 and last traded at $9.6050, with a volume of 1052941 shares trading hands. The stock had previously closed at $9.83.

DNP Select Income Fund Stock Performance

The company has a 50 day moving average price of $10.56 and a 200 day moving average price of $10.63.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.0650 per share. This represents a $0.78 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend is Thursday, December 31st.

Institutional Trading of DNP Select Income Fund

A number of hedge funds have recently modified their holdings of the stock. Axiom Investment Management LLC bought a new position in DNP Select Income Fund during the first quarter worth about $25,000. Global Retirement Partners LLC bought a new stake in DNP Select Income Fund in the 2nd quarter valued at about $31,000. Hilton Head Capital Partners LLC bought a new stake in DNP Select Income Fund in the 4th quarter valued at about $48,000. Global Assets Advisory LLC acquired a new position in shares of DNP Select Income Fund during the 1st quarter worth approximately $79,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in shares of DNP Select Income Fund during the 2nd quarter worth approximately $105,000. 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-end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund seeks to provide a high level of current income while also pursuing growth of income and long-term capital appreciation.

The fund invests primarily in securities issued by companies in the public utilities and infrastructure sectors. Its portfolio may include common and preferred stocks, bonds, and other income-producing securities of electric, gas, telecommunications, water, and related utility businesses.