DNP Select Income Fund (NYSE:DNP) Sees Large Volume Increase – Time to Buy?

DNP Select Income Fund Inc. (NYSE:DNP) saw unusually-high trading volume on Friday . Approximately 765,235 shares changed hands 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 Price Performance

The firm’s 50-day simple moving average is $9.29 and its 200 day simple moving average is $9.21.

DNP Select Income Fund Dividend Announcement

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

Institutional Trading of DNP Select Income Fund

A number of large investors have recently bought and sold shares of DNP. PFG Investments LLC increased its holdings in DNP Select Income Fund by 3.8% in the 2nd quarter. PFG Investments LLC now owns 46,534 shares of the investment management company’s stock worth $383,000 after acquiring an additional 1,716 shares during the last quarter. Choreo LLC bought a new stake in shares of DNP Select Income Fund in the second quarter valued at approximately $202,000. GEM Asset Management LLC purchased a new stake in shares of DNP Select Income Fund during the 2nd quarter valued at approximately $83,000. HHM Wealth Advisors LLC bought a new position in DNP Select Income Fund in the 2nd quarter worth approximately $235,000. Finally, SYM FINANCIAL Corp purchased a new position in DNP Select Income Fund in the 2nd quarter valued at approximately $93,000. 8.51% of the stock is owned by hedge funds and other institutional investors.

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.