N.E.W. Advisory Services LLC Acquires New Position in DNP Select Income Fund Inc. $DNP

N.E.W. Advisory Services LLC bought a new position in shares of DNP Select Income Fund Inc. (NYSE:DNP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 544,615 shares of the investment management company’s stock, valued at approximately $5,876,000. DNP Select Income Fund comprises 0.4% of N.E.W. Advisory Services LLC’s portfolio, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in DNP Select Income Fund by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,444 shares of the investment management company’s stock worth $171,000 after buying an additional 2,568 shares during the period. Cresset Asset Management LLC grew its holdings in DNP Select Income Fund by 3.2% in the 2nd quarter. Cresset Asset Management LLC now owns 41,953 shares of the investment management company’s stock valued at $413,000 after buying an additional 1,312 shares during the period. NewEdge Advisors LLC grew its holdings in DNP Select Income Fund by 31.4% in the 2nd quarter. NewEdge Advisors LLC now owns 52,318 shares of the investment management company’s stock valued at $512,000 after buying an additional 12,499 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of DNP Select Income Fund during the 2nd quarter valued at about $115,000. Finally, Raymond James Financial Inc. lifted its holdings in shares of DNP Select Income Fund by 5.4% during the 2nd quarter. Raymond James Financial Inc. now owns 962,109 shares of the investment management company’s stock worth $9,419,000 after acquiring an additional 48,905 shares during the period. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Price Performance

DNP opened at $10.96 on Monday. DNP Select Income Fund Inc. has a 1 year low of $9.69 and a 1 year high of $11.16. The company’s 50 day simple moving average is $10.88 and its 200 day simple moving average is $10.61.

DNP Select Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

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.