DNP Select Income Fund (NYSE:DNP) traded in a range yesterday that spanned from a low of $9.28 to a high of $9.43. Yesterday, the shares gained 0.54%, which took the trading range above the 3-day high of $9.31 on volume of 315,000 shares.
Shares of DNP Select Income Fund are currently trading above their 50-day moving average (MA) of $9.06 and above their 200-day MA of $9.02. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of DNP Select Income Fund and our subscribers were alerted to Buy on June 17, 2010 at $9.25. The stock has risen 1.1% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $9.31 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Closed End Fund- Equity industry.