DNP Select Income Fund Inc. (NYSE:DNP) Announces Monthly Dividend of $0.07

Key Points

• DNP Select Income Fund declared a monthly dividend of $0.065 per share, payable January 11 to shareholders of record on December 31. The dividend carries an annualized yield of approximately 7.6%, with December 31 also serving as the ex-dividend date.
• DNP shares opened at $10.22 and were up 0.2%, trading between a 52-week range of $9.69 to $11.16. The stock’s 50-day and 200-day moving averages were $10.84 and $10.68, respectively.
• Institutional investors made several additions to their positions during the second quarter, including a 531.8% increase by Sequoia Financial Advisors; institutions collectively own 8.51% of the fund.

DNP Select Income Fund Inc. (NYSE:DNP - Get Free Report) declared a monthly dividend on Thursday, September 17th. Stockholders of record on Thursday, December 31st will be paid a dividend of 0.065 per share by the investment management company on Monday, January 11th. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Thursday, December 31st.

DNP Select Income Fund Trading Up 0.2%

Shares of DNP opened at $10.22 on Friday. DNP Select Income Fund has a 52 week low of $9.69 and a 52 week high of $11.16. The stock has a fifty day moving average of $10.84 and a 200-day moving average of $10.68.

Institutional Trading of DNP Select Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Talon Private Wealth LLC grew its stake in shares of DNP Select Income Fund by 2.8% in the second quarter. Talon Private Wealth LLC now owns 52,985 shares of the investment management company's stock worth $572,000 after purchasing an additional 1,452 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in DNP Select Income Fund by 2.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 70,472 shares of the investment management company's stock worth $760,000 after buying an additional 1,462 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of DNP Select Income Fund by 531.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 86,734 shares of the investment management company's stock valued at $936,000 after buying an additional 73,007 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of DNP Select Income Fund in the 2nd quarter valued at about $111,000. Finally, NewEdge Advisors LLC increased its stake in shares of DNP Select Income Fund by 96.5% in the second quarter. NewEdge Advisors LLC now owns 107,762 shares of the investment management company's stock valued at $1,163,000 after buying an additional 52,918 shares during the period. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Company Profile

DNP Select Income Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

DNP invests primarily in companies involved in public utilities and other infrastructure-related industries. Its portfolio has historically emphasized electric, natural gas and telecommunications businesses, including regulated utilities and other issuers whose operations may generate relatively stable cash flows and dividend income.

The fund is managed by Duff & Phelps Investment Management Co, an investment adviser specializing in utility and infrastructure securities.

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