Arlington Capital Management Inc. Purchases Shares of 59,230 DNP Select Income Fund Inc. (NYSE:DNP)

Arlington Capital Management Inc. acquired a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, Holdings Channel reports. The fund acquired 59,230 shares of the investment management company’s stock, valued at approximately $502,000.

Several other hedge funds also recently made changes to their positions in DNP. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position 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 period. N.E.W. Advisory Services LLC grew its position in DNP Select Income Fund by 1,893.4% in the third quarter. N.E.W. Advisory Services LLC now owns 423,309 shares of the investment management company’s stock worth $4,030,000 after acquiring an additional 402,073 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of DNP Select Income Fund during the 4th quarter valued at about $1,401,000. Apollon Wealth Management LLC lifted its holdings in shares of DNP Select Income Fund by 21.7% during the fourth quarter. Apollon Wealth Management LLC now owns 738,710 shares of the investment management company’s stock worth $6,264,000 after buying an additional 131,858 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of DNP Select Income Fund during the 4th quarter valued at about $964,000. Institutional investors and hedge funds own 8.51% of the company’s stock.

DNP Select Income Fund Stock Up 0.8 %

Shares of DNP traded up $0.07 on Thursday, hitting $8.92. The company’s stock had a trading volume of 306,041 shares, compared to its average volume of 614,632. DNP Select Income Fund Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $10.70. The company has a 50 day moving average price of $8.90 and a 200 day moving average price of $8.86.

DNP Select Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 31st will be issued a $0.065 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.78 annualized dividend and a yield of 8.74%.

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.