GWN Securities Inc. Takes $463,000 Position in DNP Select Income Fund Inc. (NYSE:DNP)

GWN Securities Inc. purchased a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 49,982 shares of the investment management company's stock, valued at approximately $463,000.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in shares of DNP Select Income Fund by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,159,114 shares of the investment management company's stock valued at $10,223,000 after purchasing an additional 60,825 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in DNP Select Income Fund by 10.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 21,160 shares of the investment management company's stock valued at $187,000 after buying an additional 1,924 shares during the last quarter. Essential Planning LLC. purchased a new position in DNP Select Income Fund during the fourth quarter worth about $1,440,000. Farther Finance Advisors LLC increased its position in shares of DNP Select Income Fund by 1,030.1% during the fourth quarter. Farther Finance Advisors LLC now owns 18,386 shares of the investment management company's stock valued at $162,000 after acquiring an additional 16,759 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of DNP Select Income Fund by 10.2% in the 4th 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. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other DNP Select Income Fund news, Director Geraldine M. Mcnamara sold 11,391 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.41, for a total value of $107,189.31. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.06% of the company's stock.

DNP Select Income Fund Stock Performance

Shares of NYSE:DNP traded up $0.01 during mid-day trading on Thursday, reaching $9.62. 434,351 shares of the company were exchanged, compared to its average volume of 689,040. DNP Select Income Fund Inc. has a 1 year low of $8.02 and a 1 year high of $10.04. The firm's 50-day simple moving average is $9.41 and its 200 day simple moving average is $9.45.

DNP Select Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date is Monday, June 30th. This represents a $0.78 annualized dividend and a dividend yield of 8.11%.

DNP Select Income Fund Company Profile

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.