LPL Financial LLC raised its stake in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,202,234 shares of the investment management company's stock after purchasing an additional 42,768 shares during the quarter. LPL Financial LLC owned 0.60% of DNP Select Income Fund worth $19,424,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Wolverine Asset Management LLC purchased a new position in DNP Select Income Fund in the 4th quarter valued at $2,915,000. Strategic Financial Concepts LLC purchased a new stake in shares of DNP Select Income Fund in the fourth quarter valued at about $349,000. Barclays PLC acquired a new position in shares of DNP Select Income Fund during the third quarter worth about $1,205,000. Bard Financial Services Inc. purchased a new position in DNP Select Income Fund during the fourth quarter worth about $763,000. Finally, J.W. Cole Advisors Inc. raised its holdings in DNP Select Income Fund by 23.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 766,719 shares of the investment management company's stock worth $6,762,000 after purchasing an additional 145,449 shares in the last quarter. Institutional investors and hedge funds own 8.51% of the company's stock.
DNP Select Income Fund Price Performance
DNP traded down $0.52 during trading on Friday, reaching $9.07. The company's stock had a trading volume of 1,995,341 shares, compared to its average volume of 681,238. The company's fifty day moving average price is $9.50 and its 200-day moving average price is $9.45. DNP Select Income Fund Inc. has a 52-week low of $8.02 and a 52-week high of $10.04.
DNP Select Income Fund Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Monday, May 12th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date of this dividend is Wednesday, April 30th.
Insiders Place Their Bets
In other DNP Select Income Fund news, Director Geraldine M. Mcnamara sold 11,391 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.41, for a total transaction of $107,189.31. Following the transaction, the director now directly owns 5,344 shares in the company, valued at approximately $50,287.04. This represents a 68.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.
About DNP Select Income Fund
(
Free Report)
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.
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