Sound View Wealth Advisors Group LLC Has $2.28 Million Holdings 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 decreased its position in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent 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 period. 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wells Fargo & Company MN increased its stake in DNP Select Income Fund by 995.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,578,766 shares of the investment management company's stock worth $13,925,000 after purchasing an additional 1,434,708 shares in the last quarter. Raymond James Financial Inc. bought a new stake in DNP Select Income Fund during the fourth quarter valued at about $7,738,000. N.E.W. Advisory Services LLC grew its position in DNP Select Income Fund by 83.2% during the first quarter. N.E.W. Advisory Services LLC now owns 882,284 shares of the investment management company's stock worth $8,726,000 after buying an additional 400,688 shares in the last quarter. Royal Bank of Canada lifted 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 worth $18,724,000 after acquiring an additional 196,531 shares during the period. Finally, Cohen & Steers Inc. grew its holdings in shares of DNP Select Income Fund by 104.4% in the 4th quarter. Cohen & Steers Inc. now owns 360,387 shares of the investment management company's stock worth $3,179,000 after purchasing an additional 184,064 shares during the last quarter. Institutional investors own 8.51% of the company's stock.

DNP Select Income Fund Stock Performance

Shares of NYSE:DNP traded down $0.02 during midday trading on Friday, reaching $9.77. The company's stock had a trading volume of 400,795 shares, compared to its average volume of 516,024. DNP Select Income Fund Inc. has a fifty-two week low of $8.69 and a fifty-two week high of $10.04. The business's fifty day simple moving average is $9.75 and its 200-day simple moving average is $9.58.

DNP Select Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%.

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.