DNP Select Income Fund Inc. (NYSE:DNP) Sees Large Decrease in Short Interest

DNP Select Income Fund Inc. (NYSE:DNP) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 297,000 shares, a drop of 36.3% from the May 15th total of 466,500 shares. Based on an average daily trading volume, of 638,400 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the company’s stock are sold short.

DNP Select Income Fund Stock Performance

Shares of DNP opened at $9.73 on Monday. The stock has a 50-day moving average of $9.60 and a 200-day moving average of $9.44. DNP Select Income Fund has a one year low of $8.05 and a one year high of $10.04.

DNP Select Income Fund Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, June 2nd were paid a $0.065 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 8%.

Institutional Trading of DNP Select Income Fund

Several large investors have recently made changes to their positions in DNP. Wells Fargo & Company MN grew its stake in shares of DNP Select Income Fund by 995.9% in 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 during the period. Raymond James Financial Inc. bought a new stake in DNP Select Income Fund during the 4th quarter worth approximately $7,738,000. Smith Asset Management Co. LLC bought a new stake in DNP Select Income Fund during the 1st quarter worth approximately $4,189,000. Royal Bank of Canada increased its holdings in DNP Select Income Fund by 19.6% during the 1st quarter. Royal Bank of Canada now owns 2,538,820 shares of the investment management company’s stock worth $25,109,000 after purchasing an additional 415,954 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its holdings in DNP Select Income Fund by 83.2% during the 1st quarter. N.E.W. Advisory Services LLC now owns 882,284 shares of the investment management company’s stock worth $8,726,000 after purchasing an additional 400,688 shares in the last quarter. 8.51% of the stock is currently owned by institutional investors and hedge funds.

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.