DNP Select Income Fund (NYSE:DNP) Hits New 12-Month High – Should You Buy?

DNP Select Income Fund Inc. (NYSE:DNP)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $10.59 and last traded at $10.5550, with a volume of 949091 shares changing hands. The stock had previously closed at $10.43.

DNP Select Income Fund Stock Up 1.2%

The company has a 50-day simple moving average of $10.10 and a two-hundred day simple moving average of $10.04.

DNP Select Income Fund Announces Dividend

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

Insider Buying and Selling at DNP Select Income Fund

In other news, Director Mark G. Kahrer acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were purchased at an average cost of $10.21 per share, for a total transaction of $204,200.00. Following the transaction, the director directly owned 23,000 shares in the company, 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 accessible through this link. 0.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. ST Germain D J Co. Inc. raised its holdings in shares of DNP Select Income Fund by 10.6% during the fourth quarter. ST Germain D J Co. Inc. now owns 10,400 shares of the investment management company’s stock valued at $104,000 after buying an additional 1,000 shares during the last quarter. GW Henssler & Associates Ltd. increased its position in DNP Select Income Fund by 3.3% in the 4th quarter. GW Henssler & Associates Ltd. now owns 31,666 shares of the investment management company’s stock valued at $316,000 after acquiring an additional 1,000 shares during the period. First National Advisers LLC raised its stake in DNP Select Income Fund by 11.3% during the 3rd quarter. First National Advisers LLC now owns 11,196 shares of the investment management company’s stock valued at $112,000 after acquiring an additional 1,137 shares in the last quarter. Scotia Capital Inc. boosted its position in DNP Select Income Fund by 0.9% during the 3rd quarter. Scotia Capital Inc. now owns 138,589 shares of the investment management company’s stock worth $1,387,000 after acquiring an additional 1,204 shares during the period. Finally, Tortoise Investment Management LLC boosted its position in DNP Select Income Fund by 2.0% during the 3rd quarter. Tortoise Investment Management LLC now owns 65,100 shares of the investment management company’s stock worth $652,000 after acquiring an additional 1,262 shares during the period. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Company Profile

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.