Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 113,171 Shares of DNP Select Income Fund Inc. $DNP

Key Points

• Bay Colony Advisors cut its DNP Select Income Fund position by 9.2% in the second quarter, selling 113,171 shares and retaining 1.12 million shares valued at approximately $12.1 million.
• Institutional investors own 8.51% of DNP, while several smaller investment firms recently initiated new positions in the fund.
• DNP shares opened at $10.85, near their 50-day average, and the fund announced a $0.065 monthly dividend, equivalent to an annualized yield of about 7.2%.

Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its position in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,117,703 shares of the investment management company's stock after selling 113,171 shares during the period. DNP Select Income Fund makes up about 1.3% of Bay Colony Advisory Group Inc d b a Bay Colony Advisors' portfolio, making the stock its 14th biggest holding. Bay Colony Advisory Group Inc d b a Bay Colony Advisors owned approximately 0.30% of DNP Select Income Fund worth $12,060,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DNP. Axiom Investment Management LLC acquired a new position in shares of DNP Select Income Fund during the 1st quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of DNP Select Income Fund in the fourth quarter valued at approximately $28,000. Parallel Advisors LLC acquired a new stake in shares of DNP Select Income Fund in the fourth quarter valued at approximately $32,000. Smithfield Trust Co bought a new stake in shares of DNP Select Income Fund in the fourth quarter valued at approximately $33,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of DNP Select Income Fund in the fourth quarter valued at approximately $48,000. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Price Performance

Shares of NYSE:DNP opened at $10.85 on Tuesday. DNP Select Income Fund Inc. has a 1 year low of $9.69 and a 1 year high of $11.16. The business's 50 day simple moving average is $10.86 and its 200 day simple moving average is $10.58.

DNP Select Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Wednesday, September 30th.

About DNP Select Income Fund

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund's primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.

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