LPL Financial LLC Has $19.42 Million Position in DNP Select Income Fund Inc. (NYSE:DNP)

LPL Financial LLC increased its position in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,202,234 shares of the investment management company’s stock after buying an additional 42,768 shares during the quarter. LPL Financial LLC’s holdings in DNP Select Income Fund were worth $19,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC bought a new stake in shares of DNP Select Income Fund in the 3rd quarter worth approximately $28,000. Crews Bank & Trust acquired a new position in shares of DNP Select Income Fund in the fourth quarter valued at $29,000. UMB Bank n.a. bought a new position in DNP Select Income Fund in the fourth quarter worth $34,000. Tandem Financial LLC acquired a new stake in DNP Select Income Fund during the fourth quarter worth $34,000. Finally, Golden State Wealth Management LLC bought a new stake in DNP Select Income Fund in the 4th quarter valued at $35,000. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Stock Down 0.6 %

NYSE:DNP opened at $9.87 on Tuesday. The company has a 50-day moving average of $9.48 and a 200-day moving average of $9.45. DNP Select Income Fund Inc. has a 52 week low of $8.02 and a 52 week high of $10.04.

DNP Select Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, May 12th. Shareholders of record on Wednesday, 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 7.91%. The ex-dividend date is Wednesday, April 30th.

Insider Activity

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of DNP Select Income Fund stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.41, for a total transaction of $107,189.31. Following the completion of the transaction, the director now directly owns 5,344 shares of the company’s stock, valued at $50,287.04. This trade represents a 68.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.