88,068 Shares in DNP Select Income Fund Inc. $DNP Bought by Independent Financial Group LLC

Independent Financial Group LLC acquired a new stake in DNP Select Income Fund Inc. (NYSE:DNP) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 88,068 shares of the investment management company’s stock, valued at approximately $907,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in DNP Select Income Fund by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,444 shares of the investment management company’s stock worth $171,000 after buying an additional 2,568 shares during the last quarter. Cresset Asset Management LLC increased its stake in shares of DNP Select Income Fund by 3.2% in the 2nd quarter. Cresset Asset Management LLC now owns 41,953 shares of the investment management company’s stock valued at $413,000 after acquiring an additional 1,312 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of DNP Select Income Fund by 31.4% in the 2nd quarter. NewEdge Advisors LLC now owns 52,318 shares of the investment management company’s stock valued at $512,000 after acquiring an additional 12,499 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of DNP Select Income Fund in the 2nd quarter valued at about $115,000. Finally, Raymond James Financial Inc. raised its position in shares of DNP Select Income Fund by 5.4% in the 2nd quarter. Raymond James Financial Inc. now owns 962,109 shares of the investment management company’s stock valued at $9,419,000 after acquiring an additional 48,905 shares during the period. Institutional investors and hedge funds own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

DNP Select Income Fund stock opened at $10.98 on Wednesday. The company’s 50 day simple moving average is $10.82 and its 200 day simple moving average is $10.49. DNP Select Income Fund Inc. has a fifty-two week low of $9.69 and a fifty-two week high of $11.16.

DNP Select Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be issued a $0.065 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a yield of 7.1%.

DNP Select Income Fund Company Profile

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund’s primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.