Short Interest in DNP Select Income Fund Inc. (NYSE:DNP) Increases By 32.2%

DNP Select Income Fund Inc. (NYSE:DNP - Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 150,200 shares, an increase of 32.2% from the February 28th total of 113,600 shares. Based on an average daily trading volume, of 718,200 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of DNP Select Income Fund stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total value of $107,189.31. Following the transaction, the director now owns 5,344 shares in the company, valued at approximately $50,287.04. The trade was a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Institutional Trading of DNP Select Income Fund

Institutional investors have recently modified their holdings of the company. Safe Harbor Fiduciary LLC purchased a new position in DNP Select Income Fund during the 3rd quarter valued at about $28,000. Crews Bank & Trust bought a new stake in shares of DNP Select Income Fund in the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. purchased a new position in shares of DNP Select Income Fund during the fourth quarter valued at approximately $34,000. UMB Bank n.a. bought a new position in shares of DNP Select Income Fund during the fourth quarter valued at approximately $34,000. Finally, Tandem Financial LLC purchased a new stake in DNP Select Income Fund in the fourth quarter worth $34,000. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

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DNP Select Income Fund Stock Down 5.3 %

Shares of DNP Select Income Fund stock traded down $0.50 on Friday, hitting $9.08. The stock had a trading volume of 1,261,281 shares, compared to its average volume of 676,977. The stock's 50-day simple moving average is $9.51 and its two-hundred day simple moving average is $9.46. DNP Select Income Fund has a one year low of $8.02 and a one year high of $10.04.

DNP Select Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, May 12th. Shareholders of record on Wednesday, April 30th will be given a $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.59%. The ex-dividend date is Wednesday, April 30th.

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.