Horizon Wealth Management LLC Makes New Investment in DNP Select Income Fund Inc. (NYSE:DNP)

Horizon Wealth Management LLC acquired a new position in shares of DNP Select Income Fund Inc. (NYSE:DNP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,491 shares of the investment management company’s stock, valued at approximately $104,000.

Several other hedge funds have also recently bought and sold shares of DNP. Foundations Investment Advisors LLC raised its position in shares of DNP Select Income Fund by 205.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 284,936 shares of the investment management company’s stock valued at $2,582,000 after buying an additional 191,663 shares in the last quarter. Novak & Powell Financial Services Inc. bought a new position in DNP Select Income Fund in the fourth quarter valued at approximately $433,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of DNP Select Income Fund by 353.1% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,027,018 shares of the investment management company’s stock worth $8,709,000 after buying an additional 800,351 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of DNP Select Income Fund during the fourth quarter worth $964,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of DNP Select Income Fund during the fourth quarter worth $1,401,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Price Performance

Shares of DNP Select Income Fund stock remained flat at $8.22 during trading on Monday. 697,931 shares of the company traded hands, compared to its average volume of 697,134. DNP Select Income Fund Inc. has a one year low of $8.02 and a one year high of $10.53. The firm’s 50 day moving average is $8.59 and its 200-day moving average is $8.73.

DNP Select Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be issued a $0.065 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.78 annualized dividend and a yield of 9.49%.

DNP Select Income Fund Profile

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.