34,700 Shares in DNP Select Income Fund Inc. (NYSE:DNP) Purchased by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC purchased a new stake in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 34,700 shares of the investment management company's stock, valued at approximately $306,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC boosted its stake in DNP Select Income Fund by 2.0% in the fourth quarter. LPL Financial LLC now owns 2,202,234 shares of the investment management company's stock valued at $19,424,000 after acquiring an additional 42,768 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of DNP Select Income Fund by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,159,114 shares of the investment management company's stock worth $10,223,000 after buying an additional 60,825 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of DNP Select Income Fund during the fourth quarter valued at $7,738,000. Apollon Wealth Management LLC increased its position in shares of DNP Select Income Fund by 1.4% in the 4th quarter. Apollon Wealth Management LLC now owns 864,905 shares of the investment management company's stock valued at $7,628,000 after acquiring an additional 11,890 shares during the period. Finally, J.W. Cole Advisors Inc. raised its stake in DNP Select Income Fund by 23.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 766,719 shares of the investment management company's stock worth $6,762,000 after acquiring an additional 145,449 shares during the last quarter. Hedge funds and other institutional investors own 8.51% of the company's stock.

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DNP Select Income Fund Stock Up 1.4 %

DNP Select Income Fund stock traded up $0.14 during trading hours on Friday, hitting $9.92. 764,811 shares of the stock traded hands, compared to its average volume of 673,007. The firm's 50 day moving average price is $9.47 and its 200-day moving average price is $9.46. DNP Select Income Fund Inc. has a 1 year low of $8.02 and a 1 year high of $10.04.

DNP Select Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 30th will be issued a $0.065 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.78 annualized dividend and a yield of 7.87%.

Insiders Place Their Bets

In other DNP Select Income Fund news, Director Geraldine M. Mcnamara sold 11,391 shares of the stock in a transaction dated 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 directly owns 5,344 shares of the company's stock, valued at approximately $50,287.04. This trade represents a 68.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

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.