PFG Investments LLC Makes New $406,000 Investment in DNP Select Income Fund Inc. (NYSE:DNP)

PFG Investments LLC purchased a new position in DNP Select Income Fund Inc. (NYSE:DNP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,818 shares of the investment management company’s stock, valued at approximately $406,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in DNP Select Income Fund by 353.1% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,027,018 shares of the investment management company’s stock worth $8,709,000 after buying an additional 800,351 shares in the last quarter. Sowell Financial Services LLC bought a new position in DNP Select Income Fund in the 4th quarter worth approximately $964,000. B. Riley Wealth Advisors Inc. purchased a new stake in DNP Select Income Fund during the 3rd quarter valued at approximately $108,000. Wolverine Asset Management LLC purchased a new position in shares of DNP Select Income Fund in the fourth quarter worth $1,401,000. Finally, Advisor Resource Council bought a new position in shares of DNP Select Income Fund during the fourth quarter worth $352,000. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Stock Down 0.7 %

DNP stock traded down $0.06 during mid-day trading on Tuesday, hitting $8.71. The company had a trading volume of 435,483 shares, compared to its average volume of 622,257. The company has a 50-day moving average price of $8.91 and a 200 day moving average price of $8.89. DNP Select Income Fund Inc. has a 12-month low of $8.09 and a 12-month high of $11.03.

DNP Select Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be paid a $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date is Monday, April 29th.

About DNP Select Income Fund

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.