BUI - DNP: Utility Fund Yield Jumps To 9.6% Time For An Upgrade
2024-06-17 11:14:15 ET
Summary
- We moved the DNP Select Income Fund to a Sell a few months back.
- The CEF has underperformed XLU by 18% since then.
- We go over the reasons for our upgrade and compare the longer-term performance to UTG, UTG, and BUI.
In our last coverage of the DNP Select Income Fund ( DNP ), we told you why this poor-performing fund was likely to deliver bad returns in the medium term. With three different factors working against it, we did not see much hope for the bulls. Now, that Sell rating came up at a time when utilities were about to roar in Katy Perry style. So that is something we did not envision. Still, the three factors were strong enough that the fund still did terribly....
DNP: Utility Fund Yield Jumps To 9.6%, Time For An Upgrade