Smith Asset Management Co. LLC Makes New Investment in DNP Select Income Fund Inc. $DNP

Key Points

• Smith Asset Management Co. LLC has made a significant investment in the DNP Select Income Fund Inc. by purchasing 423,516 shares valued at approximately $4,189,000, making it the fund's 6th biggest position.
• The DNP Select Income Fund is currently trading around $9.81, with a dividend of $0.065 per share being announced, equating to an annual yield of 8.0%.
• Other institutional investors have also increased their holdings, with 8.51% of the DNP Select Income Fund owned by institutional investors and hedge funds as of the most recent quarter.

Smith Asset Management Co. LLC purchased a new position in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 423,516 shares of the investment management company's stock, valued at approximately $4,189,000. DNP Select Income Fund comprises about 3.9% of Smith Asset Management Co. LLC's investment portfolio, making the stock its 6th biggest position. Smith Asset Management Co. LLC owned about 0.11% of DNP Select Income Fund at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DNP. Cerity Partners LLC grew its holdings in DNP Select Income Fund by 2.1% in the 1st quarter. Cerity Partners LLC now owns 54,187 shares of the investment management company's stock valued at $536,000 after buying an additional 1,111 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in DNP Select Income Fund by 1.8% in the 1st quarter. Tortoise Investment Management LLC now owns 62,569 shares of the investment management company's stock valued at $619,000 after buying an additional 1,130 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of DNP Select Income Fund by 25.6% during the 1st quarter. IFP Advisors Inc now owns 5,931 shares of the investment management company's stock worth $59,000 after purchasing an additional 1,210 shares in the last quarter. Lifeworks Advisors LLC grew its holdings in shares of DNP Select Income Fund by 10.1% during the 1st quarter. Lifeworks Advisors LLC now owns 16,534 shares of the investment management company's stock worth $164,000 after purchasing an additional 1,515 shares in the last quarter. Finally, Scotia Capital Inc. grew its holdings in shares of DNP Select Income Fund by 1.2% during the 1st quarter. Scotia Capital Inc. now owns 136,130 shares of the investment management company's stock worth $1,346,000 after purchasing an additional 1,607 shares in the last quarter. 8.51% of the stock is owned by institutional investors and hedge funds.

DNP Select Income Fund Price Performance

DNP opened at $9.81 on Tuesday. DNP Select Income Fund Inc. has a 52-week low of $8.69 and a 52-week high of $10.04. The business's fifty day moving average is $9.80 and its 200-day moving average is $9.67.

DNP Select Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be given a dividend of $0.065 per share. This represents a c) annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Friday, August 29th.

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.

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