DNP Select Income Fund Inc. $DNP Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC cut its holdings in DNP Select Income Fund by 37.9% during the 1st quarter, now owning 85,554 shares valued at approximately $846,000.
• Several institutional investors have increased their stakes, with JPMorgan Chase & Co. raising its investment by 44.2%, bringing its total to 14,344 shares valued at $127,000.
• DNP Select Income Fund recently announced a monthly dividend of $0.065 per share, representing an annualized yield of 7.9%.

Kestra Advisory Services LLC trimmed its position in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,554 shares of the investment management company's stock after selling 52,125 shares during the quarter. Kestra Advisory Services LLC's holdings in DNP Select Income Fund were worth $846,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC increased its holdings in shares of DNP Select Income Fund by 4.4% during the 1st quarter. LPL Financial LLC now owns 2,298,467 shares of the investment management company's stock valued at $22,732,000 after purchasing an additional 96,233 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of DNP Select Income Fund by 10.2% during the 4th quarter. Royal Bank of Canada now owns 2,122,866 shares of the investment management company's stock valued at $18,724,000 after purchasing an additional 196,531 shares in the last quarter. Baird Financial Group Inc. increased its holdings in DNP Select Income Fund by 7.9% in the 4th quarter. Baird Financial Group Inc. now owns 1,571,899 shares of the investment management company's stock worth $13,864,000 after acquiring an additional 115,109 shares in the last quarter. Cetera Investment Advisers increased its holdings in DNP Select Income Fund by 9.0% in the 1st quarter. Cetera Investment Advisers now owns 1,377,023 shares of the investment management company's stock worth $13,619,000 after acquiring an additional 114,135 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in DNP Select Income Fund by 1.5% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,230,048 shares of the investment management company's stock worth $12,202,000 after acquiring an additional 18,510 shares in the last quarter. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Price Performance

Shares of DNP Select Income Fund stock traded up $0.04 during trading hours on Friday, reaching $9.85. 459,631 shares of the company's stock were exchanged, compared to its average volume of 607,211. DNP Select Income Fund Inc. has a 1 year low of $8.69 and a 1 year high of $10.04. The business has a fifty day moving average of $9.80 and a two-hundred day moving average of $9.66.

DNP Select Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%.

DNP Select Income Fund 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.