Balanced Wealth Group LLC Acquires New Position in DNP Select Income Fund Inc. (NYSE:DNP)

Balanced Wealth Group LLC bought a new position in shares of DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,830 shares of the investment management company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DNP. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in DNP Select Income Fund during the fourth quarter worth approximately $110,000. N.E.W. Advisory Services LLC raised its position in DNP Select Income Fund by 5.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 444,850 shares of the investment management company’s stock valued at $3,772,000 after purchasing an additional 21,541 shares during the last quarter. Apollon Wealth Management LLC grew its position in DNP Select Income Fund by 21.7% during the 4th quarter. Apollon Wealth Management LLC now owns 738,710 shares of the investment management company’s stock worth $6,264,000 after purchasing an additional 131,858 shares during the last quarter. Private Advisor Group LLC grew its position in DNP Select Income Fund by 5.3% during the 4th quarter. Private Advisor Group LLC now owns 183,466 shares of the investment management company’s stock worth $1,556,000 after purchasing an additional 9,271 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in DNP Select Income Fund by 40.2% in the fourth quarter. Fisher Asset Management LLC now owns 14,616 shares of the investment management company’s stock valued at $124,000 after purchasing an additional 4,189 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 traded up $0.05 during mid-day trading on Wednesday, hitting $8.85. 549,973 shares of the company’s stock were exchanged, compared to its average volume of 618,275. DNP Select Income Fund Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $10.70. The business’s 50 day moving average is $8.89 and its two-hundred day moving average is $8.86.

DNP Select Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.065 per share. This represents a $0.78 annualized dividend and a dividend yield of 8.81%. The ex-dividend date of this dividend is Friday, May 31st.

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.