Axxcess Wealth Management LLC Reduces Stock Holdings in DNP Select Income Fund Inc. (NYSE:DNP)

Axxcess Wealth Management LLC cut its position in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 44.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,644 shares of the investment management company’s stock after selling 46,233 shares during the period. Axxcess Wealth Management LLC’s holdings in DNP Select Income Fund were worth $480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DNP. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of DNP Select Income Fund by 353.1% during 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 valued at $8,709,000 after buying an additional 800,351 shares during the period. N.E.W. Advisory Services LLC increased its stake in DNP Select Income Fund by 1,893.4% during 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 acquiring an additional 402,073 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in DNP Select Income Fund in the fourth quarter valued at $1,401,000. Sowell Financial Services LLC acquired a new position in shares of DNP Select Income Fund in the 4th quarter valued at $964,000. Finally, Stratos Wealth Advisors LLC grew its holdings in shares of DNP Select Income Fund by 41.9% during the 4th 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 period. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Price Performance

Shares of NYSE:DNP opened at $8.80 on Wednesday. DNP Select Income Fund Inc. has a 12-month low of $8.09 and a 12-month high of $10.70. The business has a 50-day moving average price of $8.89 and a 200 day moving average price of $8.86.

DNP Select Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 31st will be given a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date of this dividend is Friday, May 31st.

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.