DNP Select Income Fund Inc. $DNP Stock Position Raised by Baird Financial Group Inc.

Baird Financial Group Inc. increased its position in DNP Select Income Fund Inc. (NYSE:DNP) by 3.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,151,985 shares of the investment management company’s stock after purchasing an additional 76,179 shares during the period. Baird Financial Group Inc.’s holdings in DNP Select Income Fund were worth $23,220,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Axiom Investment Management LLC acquired a new stake in shares of DNP Select Income Fund in the first quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of DNP Select Income Fund during the 4th quarter worth $28,000. Global Retirement Partners LLC acquired a new position in DNP Select Income Fund in the 2nd quarter valued at $31,000. Parallel Advisors LLC acquired a new position in DNP Select Income Fund in the 4th quarter valued at $32,000. Finally, Smithfield Trust Co acquired a new stake in shares of DNP Select Income Fund in the fourth quarter valued at about $33,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Price Performance

NYSE DNP opened at $10.55 on Friday. DNP Select Income Fund Inc. has a twelve month low of $9.69 and a twelve month high of $11.16. The stock has a 50-day simple moving average of $10.90 and a 200 day simple moving average of $10.69.

DNP Select Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th will be given 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 7.4%.

DNP Select Income Fund Company Profile

DNP Select Income Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

DNP invests primarily in companies involved in public utilities and other infrastructure-related industries. Its portfolio has historically emphasized electric, natural gas and telecommunications businesses, including regulated utilities and other issuers whose operations may generate relatively stable cash flows and dividend income.

The fund is managed by Duff & Phelps Investment Management Co, an investment adviser specializing in utility and infrastructure securities.