Financial Advocates Investment Management invests $143,000 in DNP Select Income Fund Inc. (NYSE: DNP)


Financial Advocates Investment Management has acquired a new stake in DNP Select Income Fund Inc. (NYSE: DNPGet a rating) during the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,069 shares of the investment management firm, valued at approximately $143,000.

Other large investors have also increased or reduced their stake in the company. Stratos Wealth Advisors LLC increased its position in DNP Select Income Fund by 8.6% during the 1st quarter. Stratos Wealth Advisors LLC now owns 108,558 shares of the investment management firm worth $1,283,000 after purchasing an additional 8,571 shares during the period. Mutual Advisors LLC increased its position in DNP Select Income Fund by 36.4% during the 4th quarter. Mutual Advisors LLC now owns 21,976 shares of the investment management firm worth $239,000 after purchasing 5,862 additional shares during the period. Vivaldi Capital Management LP increased its position in DNP Select Income Fund by 7.6% during the 4th quarter. Vivaldi Capital Management LP now owns 196,183 shares of the investment management company worth $2,133,000 after purchasing an additional 13,829 shares during the period. Clearstead Advisors LLC bought a new position in DNP Select Income Fund during Q4 worth $61,000. Finally, Koshinski Asset Management Inc. increased its position in DNP Select Income Fund by 5.3% during the 1st quarter. Koshinski Asset Management Inc. now owns 20,099 shares of the investment management company worth $238,000 after purchasing an additional 1,008 shares during the period. Institutional investors hold 6.70% of the company’s shares.

DNP Select Income Fund Price Performance

DNP opened at $11.32 on Wednesday. DNP Select Income Fund Inc. has a 52 week low of $10.06 and a 52 week high of $12.00. The company’s fifty-day moving average is $11.01 and its 200-day moving average is $11.26.

DNP Select Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 11. Shareholders of record on Friday, September 30 will receive a dividend of $0.065 per share. This represents an annualized dividend of $0.78 and a dividend yield of 6.89%. The ex-dividend date is Thursday, September 29.

About DNP Select Income Fund

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DNP Select Income Fund Inc is a closed-end balanced mutual fund launched by Virtus Investment Partners, Inc. The fund is managed by Duff & Phelps Investment Management Co. It invests in public markets equity and fixed income securities of United States. For the fixed income portion, the fund invests in bonds.

Further reading

Want to see which other hedge funds hold DNP? Visit HoldingsChannel.com for the latest 13F filings and insider trades for DNP Select Income Fund Inc. (NYSE: DNPGet a rating).

Institutional ownership by quarter for DNP Select Income Fund (NYSE: DNP)



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