Sound View Wealth Advisors Group LLC Has $2.28 Million Position in DNP Select Income Fund Inc. (NYSE:DNP)

Key Points

• Sound View Wealth Advisors Group LLC reduced its position in DNP Select Income Fund Inc. by 13.4%, selling 35,757 shares during the 1st quarter.
• JPMorgan Chase & Co., Wells Fargo & Company MN, and StoneX Group Inc. significantly increased their stakes in DNP Select Income Fund, with Wells Fargo's holdings up by 995.9% in the last quarter.
• DNP Select Income Fund declared a monthly dividend of $0.065 per share, translating to an annualized dividend yield of 7.92%.

Sound View Wealth Advisors Group LLC cut its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,459 shares of the investment management company's stock after selling 35,757 shares during the quarter. Sound View Wealth Advisors Group LLC owned approximately 0.06% of DNP Select Income Fund worth $2,279,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Citadel Advisors LLC boosted its position in shares of DNP Select Income Fund by 387.6% during the fourth quarter. Citadel Advisors LLC now owns 102,431 shares of the investment management company's stock worth $903,000 after buying an additional 81,424 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of DNP Select Income Fund by 12.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,409 shares of the investment management company's stock worth $677,000 after buying an additional 7,698 shares during the period. Bank of America Corp DE boosted its position in shares of 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. Private Trust Co. NA acquired a new position in shares of DNP Select Income Fund during the first quarter worth approximately $35,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of DNP Select Income Fund during the first quarter worth approximately $137,000. 8.51% of the stock is owned by institutional investors.

DNP Select Income Fund Stock Performance

DNP traded up $0.09 during trading on Monday, reaching $9.84. The stock had a trading volume of 427,244 shares, compared to its average volume of 623,924. DNP Select Income Fund Inc. has a 1-year low of $8.69 and a 1-year high of $10.04. The stock has a 50 day moving average of $9.75 and a two-hundred day moving average of $9.58.

DNP Select Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, 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 7.9%. The ex-dividend date is Tuesday, September 30th.

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.