DNP Select Income Fund Inc. (NYSE:DNP) Sees Large Decrease in Short Interest

DNP Select Income Fund Inc. (NYSE:DNP) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 297,000 shares, a decline of 36.3% from the May 15th total of 466,500 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 638,400 shares, the short-interest ratio is presently 0.5 days.

DNP Select Income Fund Stock Performance

Shares of NYSE DNP opened at $9.73 on Monday. DNP Select Income Fund has a twelve month low of $8.05 and a twelve month high of $10.04. The stock’s 50 day moving average price is $9.60 and its 200-day moving average price is $9.44.

DNP Select Income Fund Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, June 2nd were paid a $0.065 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 8%.

Hedge Funds Weigh In On DNP Select Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of DNP. Sunbelt Securities Inc. purchased a new position in shares of DNP Select Income Fund in the 4th quarter worth approximately $34,000. Private Trust Co. NA bought a new stake in shares of DNP Select Income Fund in the 1st quarter worth approximately $35,000. Sandy Spring Bank raised its holdings in shares of DNP Select Income Fund by 141.4% in the 4th quarter. Sandy Spring Bank now owns 4,951 shares of the investment management company’s stock worth $44,000 after purchasing an additional 2,900 shares during the period. Menard Financial Group LLC bought a new stake in shares of DNP Select Income Fund in the 4th quarter worth approximately $55,000. Finally, IFP Advisors Inc raised its holdings in shares of DNP Select Income Fund by 25.6% in the 1st quarter. IFP Advisors Inc now owns 5,931 shares of the investment management company’s stock worth $59,000 after purchasing an additional 1,210 shares during the period. Hedge funds and other institutional investors own 8.51% of the company’s stock.

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.