Tortoise Investment Management LLC Invests $760,000 in DNP Select Income Fund Inc. $DNP

Tortoise Investment Management LLC acquired a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 70,472 shares of the investment management company’s stock, valued at approximately $760,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in DNP Select Income Fund by 4.2% during the 1st quarter. Royal Bank of Canada now owns 3,229,721 shares of the investment management company’s stock valued at $33,266,000 after buying an additional 131,646 shares during the last quarter. LPL Financial LLC boosted its stake in shares of DNP Select Income Fund by 16.3% in the 4th quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company’s stock worth $30,579,000 after buying an additional 430,094 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of DNP Select Income Fund by 1.3% in the first quarter. Cetera Investment Advisers now owns 1,530,527 shares of the investment management company’s stock worth $15,764,000 after acquiring an additional 19,122 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of DNP Select Income Fund by 3.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,497,243 shares of the investment management company’s stock worth $14,957,000 after acquiring an additional 47,974 shares during the period. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of DNP Select Income Fund by 1.3% in the fourth quarter. J.W. Cole Advisors Inc. now owns 1,129,972 shares of the investment management company’s stock worth $11,288,000 after acquiring an additional 14,173 shares during the period. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

DNP stock opened at $10.94 on Tuesday. DNP Select Income Fund Inc. has a fifty-two week low of $9.69 and a fifty-two week high of $11.16. The business’s 50-day moving average is $10.88 and its two-hundred day moving average is $10.61.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 7.1%.

DNP Select Income Fund Company 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.