Short Interest in DNP Select Income Fund Inc. (NYSE:DNP) Rises By 32.2%

DNP Select Income Fund Inc. (NYSE:DNP) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 150,200 shares, a growth of 32.2% from the February 28th total of 113,600 shares. Based on an average daily volume of 718,200 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are short sold.

DNP Select Income Fund Stock Performance

NYSE DNP traded down $0.11 during trading hours on Tuesday, reaching $9.79. 681,913 shares of the company were exchanged, compared to its average volume of 673,151. The business’s 50 day simple moving average is $9.49 and its 200-day simple moving average is $9.46. DNP Select Income Fund has a 1 year low of $8.02 and a 1 year high of $10.04.

DNP Select Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, May 12th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.065 per share. The ex-dividend date is Wednesday, April 30th. This represents a $0.78 annualized dividend and a yield of 7.97%.

Insider Activity

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,344 shares of the company’s stock, valued at $50,287.04. This represents a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of DNP Select Income Fund

A number of large investors have recently modified their holdings of the business. Safe Harbor Fiduciary LLC purchased a new stake in DNP Select Income Fund during the third quarter valued at about $28,000. Crews Bank & Trust bought a new position in shares of DNP Select Income Fund during the fourth quarter valued at about $29,000. UMB Bank n.a. purchased a new stake in shares of DNP Select Income Fund during the fourth quarter worth about $34,000. Tandem Financial LLC bought a new position in shares of DNP Select Income Fund during the fourth quarter valued at approximately $34,000. Finally, Sunbelt Securities Inc. purchased a new position in DNP Select Income Fund during the 4th quarter valued at $34,000. Institutional investors own 8.51% of the company’s stock.

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.