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

Wolverine Asset Management LLC bought a new position in shares of DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 165,186 shares of the investment management company’s stock, valued at approximately $1,401,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in DNP Select Income Fund in the third quarter worth $65,000. Tennessee Valley Asset Management Partners purchased a new stake in DNP Select Income Fund in the fourth quarter worth about $65,000. BOK Financial Private Wealth Inc. purchased a new stake in DNP Select Income Fund in the fourth quarter worth about $82,000. Investment Partners Asset Management Inc. purchased a new stake in DNP Select Income Fund in the fourth quarter worth about $85,000. Finally, Saxon Interests Inc. purchased a new stake in shares of DNP Select Income Fund in the 4th quarter worth approximately $86,000. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Stock Performance

DNP Select Income Fund stock opened at $8.83 on Thursday. The stock’s 50 day moving average is $8.90 and its 200 day moving average is $8.92. DNP Select Income Fund Inc. has a twelve month low of $8.09 and a twelve month high of $11.18.

DNP Select Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.83%.

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.