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

Shares of DNP Select Income Fund Inc. (NYSE:DNP) saw unusually-strong trading volume on Wednesday . Approximately 556,104 shares changed hands during 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 Stock Performance

The company’s 50-day moving average is $9.22 and its two-hundred day moving average is $9.39.

DNP Select Income Fund Dividend Announcement

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

Institutional Investors Weigh In On DNP Select Income Fund

Large investors have recently modified their holdings of the business. Safe Harbor Fiduciary LLC acquired a new stake in shares of DNP Select Income Fund in the 3rd quarter valued at $28,000. Crews Bank & Trust bought a new stake in shares of DNP Select Income Fund during the 4th quarter valued at approximately $29,000. UMB Bank n.a. bought a new stake in shares of DNP Select Income Fund during the 4th quarter valued at approximately $34,000. Tandem Financial LLC bought a new stake in shares of DNP Select Income Fund during the 4th quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of DNP Select Income Fund during the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 8.51% of the company’s stock.

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.