Tennessee Valley Asset Management Partners Buys New Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Tennessee Valley Asset Management Partners bought a new stake in DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,616 shares of the investment management company’s stock, valued at approximately $65,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. IFP Advisors Inc increased its holdings in shares of DNP Select Income Fund by 2.5% during the 3rd quarter. IFP Advisors Inc now owns 49,594 shares of the investment management company’s stock worth $472,000 after buying an additional 1,200 shares during the last quarter. Investment Partners LTD. increased its holdings in shares of DNP Select Income Fund by 2.8% during the 3rd quarter. Investment Partners LTD. now owns 46,026 shares of the investment management company’s stock worth $438,000 after buying an additional 1,260 shares during the last quarter. Roman Butler Fullerton & Co. increased its holdings in shares of DNP Select Income Fund by 3.6% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 43,764 shares of the investment management company’s stock worth $426,000 after buying an additional 1,504 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of DNP Select Income Fund by 4.6% during the 3rd quarter. Sigma Planning Corp now owns 39,463 shares of the investment management company’s stock worth $376,000 after buying an additional 1,731 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of DNP Select Income Fund by 1.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 103,742 shares of the investment management company’s stock worth $988,000 after buying an additional 1,976 shares during the last quarter. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Trading Up 0.3 %

Shares of NYSE DNP opened at $8.83 on Tuesday. DNP Select Income Fund Inc. has a 12-month low of $8.09 and a 12-month high of $11.18. The stock has a fifty day moving average price of $8.90 and a 200 day moving average price of $8.92.

DNP Select Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be given a $0.065 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.78 dividend on an annualized basis and a yield of 8.84%.

About DNP Select Income Fund

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.