DNP Select Income Fund (NYSE:DNP) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of DNP Select Income Fund Inc. (NYSE:DNP) saw unusually-strong trading volume on Wednesday . Approximately 556,104 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 681,755 shares.The stock last traded at $9.36 and had previously closed at $9.50.

DNP Select Income Fund Price Performance

The business has a 50 day simple moving average of $9.22 and a 200-day simple moving average of $9.39.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued a dividend of $0.065 per share. The ex-dividend date was Friday, January 31st. This represents a yield of 8.24%.

Institutional Trading of DNP Select Income Fund

Several hedge funds have recently added to or reduced their stakes in DNP. Truist Financial Corp raised its holdings in shares of DNP Select Income Fund by 18.9% in the 2nd quarter. Truist Financial Corp now owns 90,605 shares of the investment management company’s stock worth $745,000 after purchasing an additional 14,434 shares during the period. Sanctuary Advisors LLC bought a new position in DNP Select Income Fund during the second quarter valued at $557,000. CWM LLC increased its position in DNP Select Income Fund by 20.5% in the third quarter. CWM LLC now owns 27,761 shares of the investment management company’s stock worth $279,000 after buying an additional 4,714 shares during the last quarter. Concourse Financial Group Securities Inc. raised its stake in shares of DNP Select Income Fund by 71.5% in the third quarter. Concourse Financial Group Securities Inc. now owns 21,147 shares of the investment management company’s stock valued at $214,000 after buying an additional 8,816 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of DNP Select Income Fund during the 3rd quarter valued at $44,000. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Company Profile

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.