DNP Select Income Fund Inc. Plans Monthly Dividend of $0.07 (NYSE:DNP)

DNP Select Income Fund Inc. (NYSE:DNP) declared a monthly dividend on Monday, June 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.065 per share by the investment management company on Tuesday, October 13th. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Wednesday, September 30th.

DNP Select Income Fund Price Performance

DNP Select Income Fund stock opened at $10.72 on Tuesday. The business’s fifty day moving average is $10.66 and its two-hundred day moving average is $10.34. DNP Select Income Fund has a 52 week low of $9.59 and a 52 week high of $10.92.

Hedge Funds Weigh In On DNP Select Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of DNP. N.E.W. Advisory Services LLC boosted its stake in DNP Select Income Fund by 414.2% in the fourth quarter. N.E.W. Advisory Services LLC now owns 653,002 shares of the investment management company’s stock worth $6,523,000 after purchasing an additional 526,009 shares in the last quarter. LPL Financial LLC boosted its stake in DNP Select Income Fund by 16.3% in the fourth quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company’s stock worth $30,579,000 after purchasing an additional 430,094 shares in the last quarter. Royal Bank of Canada boosted its stake in DNP Select Income Fund by 10.9% in the fourth quarter. Royal Bank of Canada now owns 3,098,075 shares of the investment management company’s stock worth $30,950,000 after purchasing an additional 305,028 shares in the last quarter. Alchemi Wealth LLC acquired a new position in DNP Select Income Fund in the fourth quarter worth $2,489,000. Finally, Align Financial LLC acquired a new position in DNP Select Income Fund in the fourth quarter worth $2,352,000. Institutional investors and hedge funds own 8.51% of the company’s stock.

About DNP Select Income Fund

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.