DNP Select Income Fund Inc. (NYSE:DNP) Director Acquires $20,825.00 in Stock

DNP Select Income Fund Inc. (NYSE:DNP) Director Philip R. Mcloughlin acquired 2,500 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were bought at an average cost of $8.33 per share, for a total transaction of $20,825.00. Following the completion of the acquisition, the director now directly owns 18,318 shares of the company’s stock, valued at approximately $152,588.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

DNP Select Income Fund Price Performance

Shares of DNP opened at $8.46 on Friday. DNP Select Income Fund Inc. has a 1 year low of $8.02 and a 1 year high of $10.38. The stock has a 50 day simple moving average of $8.51 and a 200-day simple moving average of $8.71.

DNP Select Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.78 annualized dividend and a yield of 9.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DNP. Foguth Wealth Management LLC. acquired a new stake in shares of DNP Select Income Fund during the 1st quarter worth about $1,005,000. Foundations Investment Advisors LLC raised its stake 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 acquiring an additional 191,663 shares during the last quarter. Novak & Powell Financial Services Inc. acquired a new position in shares of DNP Select Income Fund in the 4th quarter worth approximately $433,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of DNP Select Income Fund by 353.1% in the 4th 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 acquiring an additional 800,351 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in DNP Select Income Fund during the 4th quarter worth approximately $964,000. 8.51% of the stock is owned by institutional investors.

DNP Select Income Fund Company 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.