DNP Select Income Fund (NYSE:DNP) Hits New 12-Month High – What’s Next?

DNP Select Income Fund Inc. (NYSE:DNP)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $10.65 and last traded at $10.65, with a volume of 517 shares. The stock had previously closed at $10.52.

DNP Select Income Fund Stock Performance

The firm has a fifty day moving average price of $10.17 and a 200 day moving average price of $10.07.

DNP Select Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be given a $0.065 dividend. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Tuesday, March 31st.

Insider Transactions at DNP Select Income Fund

In other news, Director Mark G. Kahrer acquired 20,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was purchased at an average cost of $10.21 per share, with a total value of $204,200.00. Following the acquisition, the director owned 23,000 shares of the company’s stock, 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 link. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DNP Select Income Fund

Large investors have recently bought and sold shares of the business. Safe Harbor Fiduciary LLC acquired a new position in shares of DNP Select Income Fund in the 4th quarter valued at $28,000. Ameriflex Group Inc. grew its position in shares of DNP Select Income Fund by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company’s stock worth $30,000 after buying an additional 1,500 shares during the period. Parallel Advisors LLC bought a new stake in shares of DNP Select Income Fund in the 4th quarter valued at about $32,000. Spire Wealth Management raised its position in shares of 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 during the period. Finally, Smithfield Trust Co acquired a new position in DNP Select Income Fund during the fourth quarter valued at approximately $33,000. 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.