Commonwealth Equity Services LLC Raises Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Commonwealth Equity Services LLC lifted its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 5.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,159,114 shares of the investment management company’s stock after buying an additional 60,825 shares during the quarter. Commonwealth Equity Services LLC’s holdings in DNP Select Income Fund were worth $10,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in DNP. HBK Sorce Advisory LLC lifted its position in DNP Select Income Fund by 10.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 21,160 shares of the investment management company’s stock worth $187,000 after buying an additional 1,924 shares during the period. Essential Planning LLC. acquired a new stake in DNP Select Income Fund during the 4th quarter valued at $1,440,000. Farther Finance Advisors LLC grew its stake in DNP Select Income Fund by 1,030.1% during the 4th quarter. Farther Finance Advisors LLC now owns 18,386 shares of the investment management company’s stock valued at $162,000 after purchasing an additional 16,759 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 in the last quarter. Finally, Tortoise Investment Management LLC grew its stake in DNP Select Income Fund by 2.0% in the fourth quarter. Tortoise Investment Management LLC now owns 61,439 shares of the investment management company’s stock worth $542,000 after purchasing an additional 1,220 shares in the last quarter. Institutional investors and hedge funds own 8.51% of the company’s stock.

Insider Activity

In related 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 transaction of $107,189.31. Following the transaction, the director now directly owns 5,344 shares of the company’s stock, valued at $50,287.04. The trade was a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

DNP Select Income Fund Stock Up 0.4 %

DNP Select Income Fund stock opened at $9.60 on Thursday. The company has a fifty day moving average price of $9.41 and a two-hundred day moving average price of $9.45. DNP Select Income Fund Inc. has a 12 month low of $8.02 and a 12 month high of $10.04.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed 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. This represents a $0.78 annualized dividend and a yield of 8.13%. The ex-dividend date of this dividend is Monday, June 30th.

DNP Select Income Fund 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.