DNP Select Income Fund Inc. (NYSE:DNP) Sees Significant Growth in Short Interest

DNP Select Income Fund Inc. (NYSE:DNP - Get Free Report) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 113,600 shares, a growth of 181.9% from the February 13th total of 40,300 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 753,300 shares, the days-to-cover ratio is currently 0.2 days.

Insider Activity at DNP Select Income Fund

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total transaction of $107,189.31. Following the sale, the director now owns 5,344 shares of the company's stock, valued at $50,287.04. This trade represents a 68.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Trading of DNP Select Income Fund

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in DNP Select Income Fund by 10.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 11,995 shares of the investment management company's stock valued at $106,000 after acquiring an additional 1,110 shares during the period. Kovack Advisors Inc. grew its position in DNP Select Income Fund by 2.4% in the 4th quarter. Kovack Advisors Inc. now owns 50,329 shares of the investment management company's stock valued at $444,000 after purchasing an additional 1,184 shares during the period. CreativeOne Wealth LLC grew its position in DNP Select Income Fund by 6.4% in the 4th quarter. CreativeOne Wealth LLC now owns 20,204 shares of the investment management company's stock valued at $178,000 after purchasing an additional 1,210 shares during the period. Tortoise Investment Management LLC increased its stake in DNP Select Income Fund by 2.0% during the 4th quarter. Tortoise Investment Management LLC now owns 61,439 shares of the investment management company's stock valued at $542,000 after purchasing an additional 1,220 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its holdings in DNP Select Income Fund by 11.4% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 12,000 shares of the investment management company's stock worth $106,000 after buying an additional 1,225 shares during the last quarter. Institutional investors own 8.51% of the company's stock.

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DNP Select Income Fund Price Performance

Shares of DNP Select Income Fund stock traded up $0.12 during midday trading on Monday, reaching $9.63. The company had a trading volume of 235,684 shares, compared to its average volume of 672,894. The stock has a fifty day moving average price of $9.38 and a 200 day moving average price of $9.45. DNP Select Income Fund has a fifty-two week low of $8.02 and a fifty-two week high of $10.04.

DNP Select Income Fund Announces Dividend

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. The ex-dividend date of this dividend was Friday, January 31st. This represents a yield of 8.24%.

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.