DNP Select Income Fund (NYSE:DNP) Director Purchases $204,200.00 in Stock

DNP Select Income Fund Inc. (NYSE:DNP) Director Mark Kahrer bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was acquired at an average price of $10.21 per share, for a total transaction of $204,200.00. Following the transaction, the director owned 23,000 shares in the company, valued at $234,830. This trade represents a 666.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

DNP Select Income Fund Stock Performance

NYSE DNP opened at $10.45 on Friday. The company has a 50-day simple moving average of $10.05 and a two-hundred day simple moving average of $10.01. DNP Select Income Fund Inc. has a 12-month low of $8.69 and a 12-month high of $10.45.

DNP Select Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 7.5%.

Hedge Funds Weigh In On DNP Select Income Fund

Large investors have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp raised its stake in DNP Select Income Fund by 678.5% in the third quarter. Atlantic Union Bankshares Corp now owns 183,942 shares of the investment management company’s stock worth $1,841,000 after buying an additional 160,314 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of DNP Select Income Fund by 4.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,449,269 shares of the investment management company’s stock valued at $14,507,000 after purchasing an additional 65,175 shares during the period. Verus Capital Partners LLC boosted its position in shares of DNP Select Income Fund by 87.9% during the second quarter. Verus Capital Partners LLC now owns 125,832 shares of the investment management company’s stock valued at $1,232,000 after purchasing an additional 58,867 shares in the last quarter. Westbourne Investment Advisors Inc. purchased a new stake in DNP Select Income Fund in the second quarter worth $673,000. Finally, Sowell Financial Services LLC purchased a new stake in DNP Select Income Fund in the third quarter worth $2,211,000. 8.51% of the stock is owned by hedge funds and other institutional investors.

About DNP Select Income Fund

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund’s primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.