Tortoise Investment Management LLC Buys 1,220 Shares of DNP Select Income Fund Inc. (NYSE:DNP)

Tortoise Investment Management LLC increased its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 2.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 61,439 shares of the investment management company’s stock after purchasing an additional 1,220 shares during the period. Tortoise Investment Management LLC’s holdings in DNP Select Income Fund were worth $542,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DNP. Raymond James Financial Inc. purchased a new stake in DNP Select Income Fund during the fourth quarter valued at $7,738,000. Kentucky Trust Co purchased a new stake in shares of DNP Select Income Fund in the fourth quarter valued at $5,598,000. Wolverine Asset Management LLC purchased a new stake in shares of DNP Select Income Fund in the fourth quarter valued at $2,915,000. IHT Wealth Management LLC raised its stake in shares of DNP Select Income Fund by 257.6% in the third quarter. IHT Wealth Management LLC now owns 425,789 shares of the investment management company’s stock valued at $4,275,000 after acquiring an additional 306,712 shares during the period. Finally, J.W. Cole Advisors Inc. raised its stake in shares of DNP Select Income Fund by 23.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 766,719 shares of the investment management company’s stock valued at $6,762,000 after acquiring an additional 145,449 shares during the period. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

Shares of DNP opened at $9.54 on Tuesday. DNP Select Income Fund Inc. has a twelve month low of $8.02 and a twelve month high of $10.04. The company’s fifty day simple moving average is $9.33 and its 200-day simple moving average is $9.44.

DNP Select Income Fund Announces Dividend

The company also recently announced a dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were paid a $0.065 dividend. This represents a dividend yield of 8.24%. The ex-dividend date of this dividend was Friday, January 31st.

Insider Activity

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.41, for a total value of $107,189.31. Following the transaction, the director now directly owns 5,344 shares in the company, valued at approximately $50,287.04. This represents a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

About DNP Select Income Fund

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.