Kingsview Wealth Management LLC Takes Position in DNP Select Income Fund Inc. $DNP

Key Points

• Kingsview Wealth Management acquired 278,300 shares of DNP Select Income Fund during the second quarter, valued at approximately $3.0 million and representing a 0.07% stake.
• Institutional ownership of DNP stands at 8.51%, with Royal Bank of Canada, LPL Financial, Cetera Investment Advisers and other firms also increasing their positions.
• DNP shares opened at $10.94, near their 50-day average, while the fund declared a monthly dividend of $0.065 per share, implying an annualized yield of about 7.1%.

Kingsview Wealth Management LLC purchased a new position in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 278,300 shares of the investment management company's stock, valued at approximately $3,003,000. Kingsview Wealth Management LLC owned 0.07% of DNP Select Income Fund at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DNP. Royal Bank of Canada raised its stake in shares of DNP Select Income Fund by 4.2% during the 1st quarter. Royal Bank of Canada now owns 3,229,721 shares of the investment management company's stock worth $33,266,000 after purchasing an additional 131,646 shares during the period. LPL Financial LLC raised its position in DNP Select Income Fund by 16.3% in the fourth quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company's stock worth $30,579,000 after acquiring an additional 430,094 shares during the period. Cetera Investment Advisers boosted its stake in DNP Select Income Fund by 1.3% in the first quarter. Cetera Investment Advisers now owns 1,530,527 shares of the investment management company's stock valued at $15,764,000 after acquiring an additional 19,122 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of DNP Select Income Fund by 3.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,497,243 shares of the investment management company's stock valued at $14,957,000 after acquiring an additional 47,974 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in shares of DNP Select Income Fund by 1.3% during the 4th quarter. J.W. Cole Advisors Inc. now owns 1,129,972 shares of the investment management company's stock worth $11,288,000 after purchasing an additional 14,173 shares during the last quarter. Hedge funds and other institutional investors own 8.51% of the company's stock.

DNP Select Income Fund Trading Up 0.2%

DNP Select Income Fund stock opened at $10.94 on Friday. The business's 50 day simple moving average is $10.92 and its 200 day simple moving average is $10.66. DNP Select Income Fund Inc. has a 12 month low of $9.69 and a 12 month high of $11.16.

DNP Select Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.065 per share. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 7.1%.

DNP Select Income Fund Profile

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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