DNP Select Income Fund Inc. (NYSE:DNP) Stock Position Raised by RDA Financial Network

RDA Financial Network boosted its position in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 54.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 111,168 shares of the investment management company’s stock after purchasing an additional 39,255 shares during the period. RDA Financial Network’s holdings in DNP Select Income Fund were worth $1,116,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of DNP Select Income Fund by 13.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,647 shares of the investment management company’s stock valued at $79,000 after buying an additional 1,150 shares in the last quarter. Comerica Bank lifted its stake in shares of DNP Select Income Fund by 3.7% in the 1st quarter. Comerica Bank now owns 36,781 shares of the investment management company’s stock valued at $334,000 after purchasing an additional 1,311 shares during the last quarter. Hoertkorn Richard Charles boosted its holdings in DNP Select Income Fund by 6.2% in the first quarter. Hoertkorn Richard Charles now owns 25,650 shares of the investment management company’s stock worth $233,000 after purchasing an additional 1,500 shares in the last quarter. PFG Investments LLC increased its position in DNP Select Income Fund by 3.8% during the second quarter. PFG Investments LLC now owns 46,534 shares of the investment management company’s stock worth $383,000 after buying an additional 1,716 shares during the last quarter. Finally, Kovack Advisors Inc. lifted its position in shares of DNP Select Income Fund by 4.3% in the first quarter. Kovack Advisors Inc. now owns 52,871 shares of the investment management company’s stock worth $480,000 after buying an additional 2,177 shares during the last quarter. 8.51% of the stock is owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Performance

Shares of DNP traded down $0.06 during trading hours on Tuesday, hitting $9.67. 530,600 shares of the company were exchanged, compared to its average volume of 673,577. The firm’s 50 day moving average is $9.52 and its 200-day moving average is $8.96. 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 Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.78 annualized dividend and a yield of 8.07%.

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.