Baird Financial Group Inc. Acquires 77,017 Shares of DNP Select Income Fund Inc. $DNP

Key Points

• Baird Financial Group Inc. increased its holdings in DNP Select Income Fund by 4.9% during the first quarter, owning approximately 1,648,916 shares valued at $16.3 million.
• DNP Select Income Fund declared a monthly dividend of $0.065, scheduled for payment on September 10th, representing an annualized yield of 7.9%.
• The fund's stock performance shows a 52-week range between $8.69 and $10.04, with a current trading price of $9.88.

Baird Financial Group Inc. boosted its stake in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,648,916 shares of the investment management company's stock after acquiring an additional 77,017 shares during the period. Baird Financial Group Inc. owned 0.45% of DNP Select Income Fund worth $16,308,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Tortoise Investment Management LLC raised its position in DNP Select Income Fund by 1.8% in the first quarter. Tortoise Investment Management LLC now owns 62,569 shares of the investment management company's stock worth $619,000 after acquiring an additional 1,130 shares during the period. CreativeOne Wealth LLC raised its position in DNP Select Income Fund by 38.2% in the first quarter. CreativeOne Wealth LLC now owns 27,912 shares of the investment management company's stock worth $276,000 after acquiring an additional 7,708 shares during the period. WCG Wealth Advisors LLC bought a new stake in DNP Select Income Fund in the first quarter worth about $231,000. Comerica Bank raised its position in DNP Select Income Fund by 36.0% in the first quarter. Comerica Bank now owns 32,183 shares of the investment management company's stock worth $318,000 after acquiring an additional 8,515 shares during the period. Finally, Raymond James Financial Inc. raised its position in DNP Select Income Fund by 4.1% in the first quarter. Raymond James Financial Inc. now owns 913,204 shares of the investment management company's stock worth $9,032,000 after acquiring an additional 35,841 shares during the period. Institutional investors own 8.51% of the company's stock.

DNP Select Income Fund Stock Performance

DNP stock traded up $0.04 during mid-day trading on Friday, hitting $9.85. The company had a trading volume of 459,631 shares, compared to its average volume of 476,937. DNP Select Income Fund Inc. has a 12 month low of $8.69 and a 12 month high of $10.04. The stock's fifty day moving average price is $9.80 and its two-hundred day moving average price is $9.66.

DNP Select Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a $0.065 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 7.9%.

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.