Apollon Wealth Management LLC Sells 69,740 Shares of DNP Select Income Fund Inc. (NYSE:DNP)

Apollon Wealth Management LLC trimmed its holdings in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 795,165 shares of the investment management company's stock after selling 69,740 shares during the period. Apollon Wealth Management LLC owned about 0.21% of DNP Select Income Fund worth $7,864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LPL Financial LLC grew its stake in DNP Select Income Fund by 2.0% in the fourth quarter. LPL Financial LLC now owns 2,202,234 shares of the investment management company's stock valued at $19,424,000 after acquiring an additional 42,768 shares during the period. Royal Bank of Canada boosted its position in shares of DNP Select Income Fund by 10.2% during the fourth quarter. Royal Bank of Canada now owns 2,122,866 shares of the investment management company's stock worth $18,724,000 after buying an additional 196,531 shares during the period. Wells Fargo & Company MN boosted its position in shares of DNP Select Income Fund by 995.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,578,766 shares of the investment management company's stock worth $13,925,000 after buying an additional 1,434,708 shares during the period. Baird Financial Group Inc. boosted its position in shares of DNP Select Income Fund by 7.9% during the fourth quarter. Baird Financial Group Inc. now owns 1,571,899 shares of the investment management company's stock worth $13,864,000 after buying an additional 115,109 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of DNP Select Income Fund by 5.5% during the fourth quarter. Cetera Investment Advisers now owns 1,262,888 shares of the investment management company's stock worth $11,139,000 after buying an additional 66,134 shares during the period. 8.51% of the stock is owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Up 0.4%

Shares of DNP stock traded up $0.04 on Thursday, hitting $9.74. 369,593 shares of the stock were exchanged, compared to its average volume of 628,732. The business has a 50-day moving average of $9.73 and a 200 day moving average of $9.52. DNP Select Income Fund Inc. has a fifty-two week low of $8.57 and a fifty-two week high of $10.04.

DNP Select Income Fund Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.78 annualized dividend and a dividend yield of 8.01%.

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.