DNP Select Income Fund Inc. Plans Monthly Dividend of $0.07 (NYSE:DNP)

DNP Select Income Fund Inc. (NYSE:DNP) declared a monthly dividend on Monday, June 15th. Stockholders of record on Monday, August 31st will be given a dividend of 0.065 per share by the investment management company on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Monday, August 31st.

DNP Select Income Fund Trading Down 0.5%

DNP Select Income Fund stock opened at $10.72 on Tuesday. The stock has a 50 day moving average of $10.66 and a 200-day moving average of $10.34. DNP Select Income Fund has a 52 week low of $9.59 and a 52 week high of $10.92.

Hedge Funds Weigh In On DNP Select Income Fund

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in DNP Select Income Fund by 4.2% during the first quarter. Royal Bank of Canada now owns 3,229,721 shares of the investment management company’s stock worth $33,266,000 after purchasing an additional 131,646 shares during the last quarter. LPL Financial LLC lifted its stake in DNP Select Income Fund by 16.3% during the fourth quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company’s stock worth $30,579,000 after purchasing an additional 430,094 shares during the last quarter. Cetera Investment Advisers lifted its stake in DNP Select Income Fund by 1.3% during the first quarter. Cetera Investment Advisers now owns 1,530,527 shares of the investment management company’s stock worth $15,764,000 after purchasing an additional 19,122 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in DNP Select Income Fund by 3.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,497,243 shares of the investment management company’s stock worth $14,957,000 after purchasing an additional 47,974 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in DNP Select Income Fund by 1.3% during the fourth quarter. J.W. Cole Advisors Inc. now owns 1,129,972 shares of the investment management company’s stock worth $11,288,000 after purchasing an additional 14,173 shares during the last quarter. 8.51% of the stock is currently owned by institutional investors.

About DNP Select Income Fund

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.