American Financial Advisors LLC Lowers Holdings in DNP Select Income Fund Inc. $DNP

Key Points

• American Financial Advisors LLC reduced its stake in DNP Select Income Fund Inc. by 8.6%, selling 51,567 shares and now holds 549,861 shares, representing about 0.8% of its total holdings.
• Several institutional investors, including Royal Bank of Canada and LPL Financial LLC, have increased their positions in DNP Select Income Fund, showing a trend of growing interest among major financial institutions.
• DNP Select Income Fund shares are currently priced at $9.93, with a 1-year low of $8.69 and a high of $10.04, indicating some volatility within the past year.

American Financial Advisors LLC lessened its position in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 8.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 549,861 shares of the investment management company's stock after selling 51,567 shares during the quarter. DNP Select Income Fund makes up about 0.8% of American Financial Advisors LLC's holdings, making the stock its 26th largest position. American Financial Advisors LLC owned about 0.15% of DNP Select Income Fund worth $5,383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DNP. Jane Street Group LLC acquired a new position in shares of DNP Select Income Fund during the 4th quarter worth $301,000. Ameriprise Financial Inc. raised its stake in DNP Select Income Fund by 39.1% in the 4th quarter. Ameriprise Financial Inc. now owns 141,907 shares of the investment management company's stock valued at $1,252,000 after purchasing an additional 39,855 shares during the last quarter. Bank of America Corp DE raised its stake in DNP Select Income Fund by 7.7% in the 4th quarter. Bank of America Corp DE now owns 934,015 shares of the investment management company's stock valued at $8,238,000 after purchasing an additional 66,548 shares during the last quarter. Citadel Advisors LLC raised its stake in DNP Select Income Fund by 387.6% in the 4th quarter. Citadel Advisors LLC now owns 102,431 shares of the investment management company's stock valued at $903,000 after purchasing an additional 81,424 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in DNP Select Income Fund by 10.2% in the 4th quarter. Royal Bank of Canada now owns 2,122,866 shares of the investment management company's stock valued at $18,724,000 after purchasing an additional 196,531 shares during the last quarter. Institutional investors and hedge funds own 8.51% of the company's stock.

DNP Select Income Fund Trading Down 0.1%

DNP stock traded down $0.01 during trading on Monday, hitting $9.94. The stock had a trading volume of 506,531 shares, compared to its average volume of 502,507. The company's 50 day moving average price is $9.85 and its two-hundred day moving average price is $9.70. DNP Select Income Fund Inc. has a 1-year low of $8.69 and a 1-year high of $10.04.

DNP Select Income Fund Announces Dividend

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

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.