Bay Capital Advisors LLC Makes New Investment in DNP Select Income Fund Inc. (NYSE:DNP)

Bay Capital Advisors LLC purchased a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,433 shares of the investment management company’s stock, valued at approximately $127,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC increased its holdings in DNP Select Income Fund by 2.0% during the 4th quarter. LPL Financial LLC now owns 2,202,234 shares of the investment management company’s stock worth $19,424,000 after acquiring an additional 42,768 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of DNP Select Income Fund by 5.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,159,114 shares of the investment management company’s stock worth $10,223,000 after purchasing an additional 60,825 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of DNP Select Income Fund in the fourth quarter worth $7,738,000. Apollon Wealth Management LLC boosted its stake in DNP Select Income Fund by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 864,905 shares of the investment management company’s stock valued at $7,628,000 after buying an additional 11,890 shares during the period. Finally, J.W. Cole Advisors Inc. grew its position in DNP Select Income Fund by 23.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 766,719 shares of the investment management company’s stock worth $6,762,000 after buying an additional 145,449 shares in the last quarter. 8.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 5,344 shares in the company, valued at approximately $50,287.04. This represents a 68.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

DNP Select Income Fund Stock Up 0.8 %

NYSE:DNP opened at $9.68 on Tuesday. The business’s 50-day moving average price is $9.43 and its two-hundred day moving average price is $9.45. DNP Select Income Fund Inc. has a twelve month low of $8.02 and a twelve month high of $10.04.

DNP Select Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.78 annualized dividend and a yield of 8.06%.

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.