Bank of America Corp DE bought a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,013,206 shares of the investment management company's stock, valued at approximately $10,932,000. Bank of America Corp DE owned 0.27% of DNP Select Income Fund as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of DNP. Axiom Investment Management LLC purchased a new stake in shares of DNP Select Income Fund in the first quarter valued at approximately $25,000. Global Retirement Partners LLC acquired a new stake in DNP Select Income Fund in the 2nd quarter valued at $31,000. Hilton Head Capital Partners LLC purchased a new stake in DNP Select Income Fund in the 4th quarter worth $48,000. Global Assets Advisory LLC purchased a new stake in DNP Select Income Fund in the 1st quarter worth $79,000. Finally, BNB Wealth Management LLC acquired a new position in DNP Select Income Fund during the fourth quarter worth $104,000. Hedge funds and other institutional investors own 8.51% of the company's stock.
DNP Select Income Fund Stock Down 0.7%
DNP opened at $9.79 on Friday. DNP Select Income Fund Inc. has a 52-week low of $9.68 and a 52-week high of $11.16. The firm's fifty day simple moving average is $10.71 and its two-hundred day simple moving average is $10.65.
DNP Select Income Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.0650 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.0%.
DNP Select Income Fund Profile
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Free Report)
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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