DNP Select Income Fund Inc. (NYSE:DNP) Short Interest Up 86.5% in August

Key Points

• DNP Select Income Fund's short interest increased by 86.5% in August, rising from 162,700 shares to 303,400 shares.
• The company's stock price has reached $10.00, with a recent average daily trading volume of 522,500 shares.
• DNP Select Income Fund declared a monthly dividend of $0.065 per share, resulting in an annualized yield of 7.8%.

DNP Select Income Fund Inc. (NYSE:DNP - ) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 303,400 shares, a growth of 86.5% from the August 15th total of 162,700 shares. Currently, 0.1% of the company's shares are short sold. Based on an average daily trading volume, of 522,500 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 522,500 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the company's shares are short sold.

DNP Select Income Fund Stock Up 0.5%

Shares of NYSE DNP traded up $0.05 during midday trading on Friday, reaching $10.00. 446,308 shares of the stock were exchanged, compared to its average volume of 498,923. The company has a 50 day simple moving average of $9.82 and a 200 day simple moving average of $9.68. DNP Select Income Fund has a twelve month low of $8.69 and a twelve month high of $10.04.

DNP Select Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were issued a dividend of $0.065 per share. The ex-dividend date was Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%.

Institutional Trading of DNP Select Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in shares of DNP Select Income Fund by 2.1% during the 1st quarter. Cerity Partners LLC now owns 54,187 shares of the investment management company's stock worth $536,000 after buying an additional 1,111 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in shares of DNP Select Income Fund by 1.8% during the 1st quarter. Tortoise Investment Management LLC now owns 62,569 shares of the investment management company's stock worth $619,000 after buying an additional 1,130 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of DNP Select Income Fund by 25.6% during the 1st quarter. IFP Advisors Inc now owns 5,931 shares of the investment management company's stock worth $59,000 after buying an additional 1,210 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in DNP Select Income Fund by 4.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 32,434 shares of the investment management company's stock valued at $318,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Global Assets Advisory LLC increased its holdings in DNP Select Income Fund by 11.6% in the 2nd quarter. Global Assets Advisory LLC now owns 11,995 shares of the investment management company's stock valued at $117,000 after purchasing an additional 1,246 shares during the last quarter. Institutional investors and hedge funds own 8.51% 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.

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