N.E.W. Advisory Services LLC Raises Holdings in DNP Select Income Fund Inc. $DNP

N.E.W. Advisory Services LLC lifted its position in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 414.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 653,002 shares of the investment management company’s stock after purchasing an additional 526,009 shares during the period. N.E.W. Advisory Services LLC’s holdings in DNP Select Income Fund were worth $6,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. increased its position in shares of DNP Select Income Fund by 100.0% during the third quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company’s stock worth $30,000 after purchasing an additional 1,500 shares in the last quarter. Spire Wealth Management increased its position in shares of DNP Select Income Fund by 84.9% during the fourth quarter. Spire Wealth Management now owns 3,400 shares of the investment management company’s stock worth $34,000 after purchasing an additional 1,561 shares in the last quarter. City Holding Co. acquired a new stake in shares of DNP Select Income Fund during the third quarter worth about $37,000. Private Wealth Asset Management LLC acquired a new stake in shares of DNP Select Income Fund during the third quarter worth about $44,000. Finally, Private Trust Co. NA increased its position in shares of DNP Select Income Fund by 85.7% during the fourth quarter. Private Trust Co. NA now owns 6,500 shares of the investment management company’s stock worth $65,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 8.51% of the company’s stock.

Insider Buying and Selling

In other DNP Select Income Fund news, Director Mark G. Kahrer purchased 20,000 shares of DNP Select Income Fund stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $10.21 per share, for a total transaction of $204,200.00. Following the transaction, the director directly 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 SEC, which is accessible through the SEC website. 0.02% of the stock is currently owned by company insiders.

DNP Select Income Fund Trading Up 1.5%

DNP opened at $10.79 on Friday. The business’s 50-day simple moving average is $10.39 and its 200-day simple moving average is $10.18. DNP Select Income Fund Inc. has a one year low of $9.45 and a one year high of $10.79.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 7.2%.

DNP Select Income Fund Profile

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.