DNP Select Income Fund Inc. $DNP Shares Sold by Contravisory Investment Management Inc.

Key Points

• Contravisory Investment Management Inc. reduced its stake in DNP Select Income Fund Inc. by 30.9%, selling 28,000 shares during the second quarter, now holding 62,500 shares valued at $612,000.
• Several other institutional investors have also recently increased or acquired stakes in DNP Select Income Fund, indicating growing interest in the company.
• As of Thursday, shares of DNP Select Income Fund traded at $9.93, with a 1-year range between $8.69 and $10.04.

Contravisory Investment Management Inc. trimmed its holdings in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 30.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,500 shares of the investment management company's stock after selling 28,000 shares during the quarter. Contravisory Investment Management Inc.'s holdings in DNP Select Income Fund were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Citadel Advisors LLC grew its position in DNP Select Income Fund by 387.6% during 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. Wealth Enhancement Advisory Services LLC raised its stake in DNP Select Income Fund by 12.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,409 shares of the investment management company's stock worth $677,000 after acquiring an additional 7,698 shares during the period. Private Trust Co. NA bought a new stake in DNP Select Income Fund during the 1st quarter worth approximately $35,000. Bank of America Corp DE boosted its stake in DNP Select Income Fund by 7.7% during the fourth quarter. Bank of America Corp DE now owns 934,015 shares of the investment management company's stock worth $8,238,000 after buying an additional 66,548 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in DNP Select Income Fund during the first quarter worth $137,000. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Stock Performance

Shares of DNP stock traded down $0.02 on Friday, hitting $9.94. The stock had a trading volume of 355,372 shares, compared to its average volume of 522,207. The business has a 50 day moving average price of $9.84 and a 200 day moving average price of $9.69. DNP Select Income Fund Inc. has a one year low of $8.69 and a one year high of $10.04.

DNP Select Income Fund Announces Dividend

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

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.