Short Interest in DNP Select Income Fund Inc. (NYSE:DNP) Drops By 27.9%

DNP Select Income Fund Inc. (NYSE:DNP - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 164,300 shares, a decline of 27.9% from the March 31st total of 227,800 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 693,100 shares, the days-to-cover ratio is presently 0.2 days.

DNP Select Income Fund Trading Up 0.7 %

Shares of DNP stock opened at $9.69 on Wednesday. DNP Select Income Fund has a 12 month low of $8.02 and a 12 month high of $10.04. The stock has a 50-day moving average price of $9.49 and a 200 day moving average price of $9.40.

DNP Select Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, May 12th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.78 annualized dividend and a dividend yield of 8.05%.

Insider Transactions at DNP Select Income Fund

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of DNP Select Income Fund stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total value of $107,189.31. Following the completion of the sale, the director now directly owns 5,344 shares of the company's stock, valued at approximately $50,287.04. This trade represents a 68.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On DNP Select Income Fund

Several institutional investors have recently modified their holdings of DNP. Barclays PLC acquired a new position in shares of DNP Select Income Fund during the 3rd quarter worth about $1,205,000. Wealthquest Corp acquired a new position in shares of DNP Select Income Fund during the 3rd quarter worth about $180,000. Bard Financial Services Inc. acquired a new position in shares of DNP Select Income Fund during the 4th quarter worth about $763,000. Brookstone Capital Management grew its position in shares of DNP Select Income Fund by 12.7% during the 4th quarter. Brookstone Capital Management now owns 54,671 shares of the investment management company's stock worth $482,000 after buying an additional 6,163 shares during the period. Finally, Future Financial Wealth Managment LLC lifted its holdings in shares of DNP Select Income Fund by 160.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 13,000 shares of the investment management company's stock valued at $115,000 after purchasing an additional 8,000 shares in the last quarter. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.