Capital Investment Advisory Services LLC Reduces Stock Holdings in DNP Select Income Fund Inc. (NYSE:DNP)

Capital Investment Advisory Services LLC decreased its stake in DNP Select Income Fund Inc. (NYSE:DNP) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,878 shares of the investment management company’s stock after selling 11,865 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in DNP Select Income Fund were worth $355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of 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 purchasing an additional 800,351 shares during the period. Sowell Financial Services LLC purchased a new position in shares of DNP Select Income Fund in the 4th quarter worth approximately $964,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of DNP Select Income Fund in the 3rd quarter worth approximately $108,000. Advisor Resource Council purchased a new position in shares of DNP Select Income Fund in the 4th quarter worth approximately $352,000. Finally, N.E.W. Advisory Services LLC boosted its holdings in DNP Select Income Fund by 1,893.4% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 423,309 shares of the investment management company’s stock valued at $4,030,000 after acquiring an additional 402,073 shares during the period. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Stock Performance

DNP opened at $8.83 on Wednesday. The business has a fifty day moving average of $8.90 and a 200 day moving average of $8.92. DNP Select Income Fund Inc. has a 52-week low of $8.09 and a 52-week high of $11.18.

DNP Select Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date of this dividend is Monday, April 29th.

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.