DNP Select Income Fund Inc. $DNP Shares Acquired by N.E.W. Advisory Services LLC

Key Points

• N.E.W. Advisory Services increased its stake in DNP Select Income Fund by 414.2% in Q4, adding 526,009 shares to hold 653,002 shares (~0.17% of the fund) valued at about $6.52 million; institutional/hedge fund ownership is roughly 8.51%.
• Director Mark G. Kahrer bought 20,000 shares on Feb. 11 at $10.21 ($204,200), raising his direct holding to 23,000 shares (a 666.67% increase); corporate insiders own about 0.02% of the stock.
• DNP declared a monthly dividend of $0.065 per share, payable July 10 with record/ex-dividend date June 30, implying a reported yield of about 7.2%.

N.E.W. Advisory Services LLC increased its stake in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 414.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 653,002 shares of the investment management company's stock after acquiring an additional 526,009 shares during the period. N.E.W. Advisory Services LLC owned approximately 0.17% of DNP Select Income Fund worth $6,523,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DNP. Ameriflex Group Inc. raised its stake in DNP Select Income Fund by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company's stock valued at $30,000 after buying an additional 1,500 shares in the last quarter. Spire Wealth Management raised its stake in DNP Select Income Fund by 84.9% in the fourth quarter. Spire Wealth Management now owns 3,400 shares of the investment management company's stock valued at $34,000 after buying an additional 1,561 shares in the last quarter. City Holding Co. acquired a new stake in DNP Select Income Fund in the third quarter valued at $37,000. Private Wealth Asset Management LLC acquired a new stake in DNP Select Income Fund in the third quarter valued at $44,000. Finally, Private Trust Co. NA raised its stake in DNP Select Income Fund by 85.7% in the fourth quarter. Private Trust Co. NA now owns 6,500 shares of the investment management company's stock valued at $65,000 after buying an additional 3,000 shares in the last quarter. 8.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DNP Select Income Fund news, Director Mark G. Kahrer purchased 20,000 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were bought at an average cost of $10.21 per share, for a total transaction of $204,200.00. Following the completion of the purchase, the director directly owned 23,000 shares in the company, valued at approximately $234,830. This represents a 666.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.02% of the stock is currently owned by corporate insiders.

DNP Select Income Fund Stock Performance

DNP Select Income Fund stock opened at $10.79 on Friday. DNP Select Income Fund Inc. has a 1-year low of $9.45 and a 1-year high of $10.79. The stock's fifty day moving average is $10.39 and its two-hundred day moving average is $10.18.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 7.2%.

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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