Providence First Trust Co lifted its stake in DNP Select Income Fund Inc. (NYSE:DNP – Free Report) by 135.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 206,438 shares of the investment management company’s stock after purchasing an additional 118,905 shares during the quarter. Providence First Trust Co’s holdings in DNP Select Income Fund were worth $2,062,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp increased its position in shares of DNP Select Income Fund by 678.5% in the third quarter. Atlantic Union Bankshares Corp now owns 183,942 shares of the investment management company’s stock worth $1,841,000 after acquiring an additional 160,314 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of DNP Select Income Fund by 4.7% during the third quarter. Commonwealth Equity Services LLC now owns 1,449,269 shares of the investment management company’s stock valued at $14,507,000 after acquiring an additional 65,175 shares during the period. N.E.W. Advisory Services LLC lifted its position in shares of DNP Select Income Fund by 414.2% in the 4th quarter. N.E.W. Advisory Services LLC now owns 653,002 shares of the investment management company’s stock valued at $6,523,000 after acquiring an additional 526,009 shares in the last quarter. Truist Financial Corp boosted its stake in DNP Select Income Fund by 73.5% in the 3rd quarter. Truist Financial Corp now owns 166,837 shares of the investment management company’s stock worth $1,670,000 after purchasing an additional 70,698 shares during the period. Finally, Foguth Wealth Management LLC. acquired a new position in DNP Select Income Fund in the 4th quarter worth approximately $865,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.
Insider Buying and Selling
In other news, Director Mark G. Kahrer purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average cost of $10.21 per share, with a total value of $204,200.00. Following the acquisition, the director directly owned 23,000 shares of the company’s stock, valued at approximately $234,830. This trade represents a 666.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.02% of the stock is currently owned by corporate insiders.
DNP Select Income Fund Price Performance
DNP Select Income Fund Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 7.3%.
DNP Select Income Fund 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.
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