Cherry Tree Wealth Management LLC Lowers Stock Position in DNP Select Income Fund Inc. (NYSE:DNP)

Cherry Tree Wealth Management LLC cut its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 62.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,755 shares of the investment management company's stock after selling 44,600 shares during the quarter. Cherry Tree Wealth Management LLC's holdings in DNP Select Income Fund were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. LPL Financial LLC boosted its stake in DNP Select Income Fund by 2.0% during the fourth quarter. LPL Financial LLC now owns 2,202,234 shares of the investment management company's stock worth $19,424,000 after acquiring an additional 42,768 shares in the last quarter. Royal Bank of Canada raised its holdings in DNP Select Income Fund by 10.2% during the fourth quarter. Royal Bank of Canada now owns 2,122,866 shares of the investment management company's stock worth $18,724,000 after buying an additional 196,531 shares during the last quarter. Wells Fargo & Company MN raised its holdings in DNP Select Income Fund by 995.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,578,766 shares of the investment management company's stock worth $13,925,000 after buying an additional 1,434,708 shares during the last quarter. Baird Financial Group Inc. raised its holdings in DNP Select Income Fund by 7.9% during the fourth quarter. Baird Financial Group Inc. now owns 1,571,899 shares of the investment management company's stock worth $13,864,000 after buying an additional 115,109 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in DNP Select Income Fund by 5.5% during the fourth quarter. Cetera Investment Advisers now owns 1,262,888 shares of the investment management company's stock worth $11,139,000 after buying an additional 66,134 shares during the last quarter. 8.51% of the stock is owned by institutional investors.

DNP Select Income Fund Stock Performance

DNP traded up $0.06 during trading on Monday, hitting $9.72. 515,987 shares of the company's stock were exchanged, compared to its average volume of 647,030. The business's 50 day moving average is $9.65 and its two-hundred day moving average is $9.45. DNP Select Income Fund Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $10.04.

DNP Select Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.78 annualized dividend and a yield of 8.02%.

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.