DNP Select Income Fund Inc. (NYSE:DNP) Director Philip R. Mcloughlin Acquires 2,500 Shares

DNP Select Income Fund Inc. (NYSE:DNP) Director Philip R. Mcloughlin bought 2,500 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were acquired at an average price of $8.33 per share, for a total transaction of $20,825.00. Following the transaction, the director now owns 18,318 shares in the company, valued at $152,588.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

DNP Select Income Fund Trading Up 1.3 %

Shares of DNP stock opened at $8.46 on Friday. The stock has a 50 day simple moving average of $8.51 and a 200 day simple moving average of $8.71. DNP Select Income Fund Inc. has a 1 year low of $8.02 and a 1 year high of $10.38.

DNP Select Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 12th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.065 per share. This represents a $0.78 annualized dividend and a dividend yield of 9.23%. The ex-dividend date is Wednesday, July 31st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers grew its stake in DNP Select Income Fund by 571.5% during the first quarter. Cetera Investment Advisers now owns 1,228,662 shares of the investment management company’s stock worth $11,144,000 after buying an additional 1,045,691 shares in the last quarter. Hartline Investment Corp acquired a new stake in shares of DNP Select Income Fund during the 1st quarter worth approximately $10,604,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in DNP Select Income Fund by 353.1% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,027,018 shares of the investment management company’s stock worth $8,709,000 after purchasing an additional 800,351 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of DNP Select Income Fund by 7.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 962,646 shares of the investment management company’s stock valued at $8,731,000 after purchasing an additional 69,301 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in shares of DNP Select Income Fund by 21.7% in the 4th quarter. Apollon Wealth Management LLC now owns 738,710 shares of the investment management company’s stock valued at $6,264,000 after purchasing an additional 131,858 shares in the last quarter. Institutional investors own 8.51% of the company’s stock.

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.