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

Shares of DNP Select Income Fund Inc. (NYSE:DNP) saw unusually-high trading volume on Tuesday . 387,475 shares were traded during mid-day trading, a decline of 42% from the previous session’s volume of 669,004 shares.The stock last traded at $10.1440 and had previously closed at $10.26.

DNP Select Income Fund Stock Performance

The stock has a 50-day moving average price of $10.85 and a 200-day moving average price of $10.68.

Institutional Trading of DNP Select Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNP. Royal Bank of Canada lifted its position in shares of DNP Select Income Fund by 4.2% in the 1st quarter. Royal Bank of Canada now owns 3,229,721 shares of the investment management company’s stock worth $33,266,000 after purchasing an additional 131,646 shares during the period. Baird Financial Group Inc. raised its stake in DNP Select Income Fund by 3.7% during the second quarter. Baird Financial Group Inc. now owns 2,151,985 shares of the investment management company’s stock worth $23,220,000 after buying an additional 76,179 shares during the last quarter. Cetera Investment Advisers raised its stake in DNP Select Income Fund by 1.3% during the first quarter. Cetera Investment Advisers now owns 1,530,527 shares of the investment management company’s stock worth $15,764,000 after buying an additional 19,122 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in DNP Select Income Fund by 1.3% in the fourth quarter. J.W. Cole Advisors Inc. now owns 1,129,972 shares of the investment management company’s stock valued at $11,288,000 after buying an additional 14,173 shares during the period. Finally, Bank of America Corp DE acquired a new position in DNP Select Income Fund in the second quarter valued at $10,932,000. Institutional investors and hedge funds own 8.51% of the company’s stock.

DNP Select Income Fund Company Profile

DNP Select Income Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

DNP invests primarily in companies involved in public utilities and other infrastructure-related industries. Its portfolio has historically emphasized electric, natural gas and telecommunications businesses, including regulated utilities and other issuers whose operations may generate relatively stable cash flows and dividend income.

The fund is managed by Duff & Phelps Investment Management Co, an investment adviser specializing in utility and infrastructure securities.