DNP Select Income Fund Inc. (NYSE:DNP) Sees Significant Increase in Short Interest

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 - Get Free Report) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 522,500 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the company's stock are sold short. Currently, 0.1% of the company's stock are sold short. Based on an average daily volume of 522,500 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On DNP Select Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new position in shares of DNP Select Income Fund during the 2nd quarter valued at approximately $27,000. Sunbelt Securities Inc. bought a new position in shares of DNP Select Income Fund during the 4th quarter valued at approximately $34,000. Private Trust Co. NA bought a new position in shares of DNP Select Income Fund during the 1st quarter valued at approximately $35,000. Menard Financial Group LLC bought a new position in shares of DNP Select Income Fund during the 4th quarter valued at approximately $55,000. Finally, IFP Advisors Inc lifted its stake 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 valued at $59,000 after buying an additional 1,210 shares in the last quarter. 8.51% of the stock is owned by institutional investors.

DNP Select Income Fund Trading Down 0.2%

Shares of NYSE:DNP traded down $0.02 during midday trading on Friday, hitting $9.94. 355,372 shares of the company's stock were exchanged, compared to its average volume of 522,207. DNP Select Income Fund has a 12 month low of $8.69 and a 12 month high of $10.04. The stock has a 50 day moving average price of $9.84 and a 200-day moving average price of $9.69.

DNP Select Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 12th. Shareholders of record on Wednesday, December 31st will be given a $0.065 dividend. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Wednesday, December 31st.

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.