Owen LaRue LLC Has $3.52 Million Stock Position in DNP Select Income Fund Inc. $DNP

Key Points

• Owen LaRue LLC increased its stake in DNP Select Income Fund Inc. by 46.5%, owning 359,822 shares valued at approximately $3.52 million.
• DNP Select Income Fund recently announced a monthly dividend of $0.065, reflecting an annual yield of 7.8%, payable on January 12th to shareholders of record by December 31st.
• The stock price of DNP Select Income Fund is currently at $9.95, with a range between $8.69 and $10.04 over the past year.

Owen LaRue LLC lifted its holdings in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 46.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 359,822 shares of the investment management company's stock after acquiring an additional 114,285 shares during the period. DNP Select Income Fund makes up 1.5% of Owen LaRue LLC's holdings, making the stock its 17th biggest holding. Owen LaRue LLC owned 0.10% of DNP Select Income Fund worth $3,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DNP. Smith Asset Management Co. LLC bought a new stake in shares of DNP Select Income Fund during the first quarter worth about $4,189,000. Royal Bank of Canada grew its position in DNP Select Income Fund by 19.6% in the 1st quarter. Royal Bank of Canada now owns 2,538,820 shares of the investment management company's stock worth $25,109,000 after purchasing an additional 415,954 shares in the last quarter. N.E.W. Advisory Services LLC grew its position in DNP Select Income Fund by 83.2% in the 1st quarter. N.E.W. Advisory Services LLC now owns 882,284 shares of the investment management company's stock worth $8,726,000 after purchasing an additional 400,688 shares in the last quarter. Cetera Investment Advisers grew its position 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 purchasing an additional 114,135 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in DNP Select Income Fund in the 1st quarter worth about $1,115,000. 8.51% of the stock is owned by institutional investors.

DNP Select Income Fund Stock Down 0.5%

Shares of DNP stock opened at $9.95 on Friday. DNP Select Income Fund Inc. has a 52-week low of $8.69 and a 52-week high of $10.04. The company has a 50-day simple moving average of $9.86 and a two-hundred day simple moving average of $9.71.

DNP Select Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, January 12th. Shareholders of record on Wednesday, December 31st will be paid a $0.065 dividend. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date is Wednesday, December 31st.

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.

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