DNP Select Income Fund (NYSE:DNP) Sees Strong Trading Volume – What’s Next?

DNP Select Income Fund Inc. (NYSE:DNP) shares saw unusually-high trading volume on Friday . Approximately 765,235 shares were traded during trading, an increase of 10% from the previous session’s volume of 695,703 shares.The stock last traded at $9.17 and had previously closed at $8.93.

DNP Select Income Fund Trading Up 3.4 %

The firm’s fifty day moving average price is $9.29 and its two-hundred day moving average price is $9.19.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.065 per share. The ex-dividend date is Friday, January 31st. This represents a $0.78 annualized dividend and a dividend yield of 8.45%.

Institutional Investors Weigh In On DNP Select Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Safe Harbor Fiduciary LLC bought a new stake in DNP Select Income Fund in the 3rd quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in DNP Select Income Fund in the 3rd quarter worth about $44,000. Future Financial Wealth Managment LLC bought a new stake in DNP Select Income Fund in the 3rd quarter worth about $50,000. Larson Financial Group LLC bought a new stake in DNP Select Income Fund in the 3rd quarter worth about $54,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in DNP Select Income Fund by 13.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,647 shares of the investment management company’s stock worth $79,000 after purchasing an additional 1,150 shares in the last quarter. 8.51% of the stock is owned by institutional investors.

About DNP Select Income Fund

DNP Select Income Fund Inc is a closed ended balanced mutual fund launched by Virtus Investment Partners, Inc The fund is managed by Duff & Phelps Investment Management Co It invests in the public equity and fixed income markets of the United States. For the fixed income portion, the fund invests in bonds.