Owen LaRue LLC Decreases Stock Holdings in DNP Select Income Fund Inc. (NYSE:DNP)

Owen LaRue LLC trimmed its position in DNP Select Income Fund Inc. (NYSE:DNP) by 52.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 205,247 shares of the investment management company’s stock after selling 229,955 shares during the period. DNP Select Income Fund makes up 0.9% of Owen LaRue LLC’s holdings, making the stock its 27th biggest holding. Owen LaRue LLC’s holdings in DNP Select Income Fund were worth $1,810,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of DNP Select Income Fund by 995.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,578,766 shares of the investment management company’s stock valued at $13,925,000 after buying an additional 1,434,708 shares in the last quarter. Raymond James Financial Inc. bought a new stake in DNP Select Income Fund in the 4th quarter worth approximately $7,738,000. Kentucky Trust Co bought a new stake in shares of DNP Select Income Fund during the 4th quarter valued at $5,598,000. Wolverine Asset Management LLC bought a new stake in shares of DNP Select Income Fund during the 4th quarter valued at $2,915,000. Finally, Cohen & Steers Inc. grew its position in shares of DNP Select Income Fund by 104.4% during the 4th quarter. Cohen & Steers Inc. now owns 360,387 shares of the investment management company’s stock valued at $3,179,000 after acquiring an additional 184,064 shares during the period. 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 shares were sold at an average price of $9.41, for a total transaction of $107,189.31. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

DNP Select Income Fund Stock Performance

DNP opened at $9.64 on Tuesday. DNP Select Income Fund Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $10.04. The firm’s fifty day moving average is $9.48 and its 200 day moving average is $9.39.

DNP Select Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, May 12th. Shareholders of record on Wednesday, April 30th will be paid a $0.065 dividend. This represents a $0.78 annualized dividend and a yield of 8.09%. The ex-dividend date of this dividend is Wednesday, April 30th.

DNP Select Income Fund 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.