Blue Chip Partners LLC Acquires Shares of 20,465 DNP Select Income Fund Inc. (NYSE:DNP)

Blue Chip Partners LLC acquired a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 20,465 shares of the investment management company’s stock, valued at approximately $174,000.

A number of other hedge funds have also bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of DNP Select Income Fund by 353.1% in the fourth 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 last quarter. N.E.W. Advisory Services LLC grew its holdings in shares of DNP Select Income Fund by 1,893.4% in the third quarter. N.E.W. Advisory Services LLC now owns 423,309 shares of the investment management company’s stock worth $4,030,000 after purchasing an additional 402,073 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of DNP Select Income Fund in the fourth quarter worth about $1,401,000. Sowell Financial Services LLC bought a new position in shares of DNP Select Income Fund in the fourth quarter worth about $964,000. Finally, Stratos Wealth Advisors LLC grew its holdings in shares of DNP Select Income Fund by 41.9% in the fourth quarter. Stratos Wealth Advisors LLC now owns 187,747 shares of the investment management company’s stock worth $1,592,000 after purchasing an additional 55,446 shares during the last quarter. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Stock Up 1.1 %

NYSE:DNP opened at $8.94 on Monday. DNP Select Income Fund Inc. has a 1-year low of $8.09 and a 1-year high of $11.03. The company has a 50-day moving average of $8.91 and a 200 day moving average of $8.90.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be given a $0.065 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.78 annualized dividend and a dividend yield of 8.72%.

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.