Sound Income Strategies LLC Increases Stake in DNP Select Income Fund Inc. (DNP)

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Sound Income Strategies LLC grew its holdings in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 143.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,076 shares of the investment management company’s stock after buying an additional 6,526 shares during the period. Sound Income Strategies LLC’s holdings in DNP Select Income Fund were worth $121,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Morgan Stanley boosted its holdings in shares of DNP Select Income Fund by 8.9% during the 3rd quarter. Morgan Stanley now owns 1,402,896 shares of the investment management company’s stock valued at $15,530,000 after buying an additional 114,445 shares in the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of DNP Select Income Fund by 86.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 132,114 shares of the investment management company’s stock valued at $1,463,000 after buying an additional 61,107 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of DNP Select Income Fund during the 3rd quarter valued at $111,000. LPL Financial LLC boosted its holdings in shares of DNP Select Income Fund by 3.7% during the 3rd quarter. LPL Financial LLC now owns 344,960 shares of the investment management company’s stock valued at $3,819,000 after buying an additional 12,411 shares in the last quarter. Finally, Patten Group Inc. boosted its holdings in shares of DNP Select Income Fund by 21.8% during the 3rd quarter. Patten Group Inc. now owns 46,588 shares of the investment management company’s stock valued at $516,000 after buying an additional 8,350 shares in the last quarter. Hedge funds and other institutional investors own 4.09% of the company’s stock.

In other DNP Select Income Fund news, Director David J. Vitale bought 7,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were purchased at an average price of $10.44 per share, for a total transaction of $73,080.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.

Shares of DNP stock traded up $0.02 during mid-day trading on Thursday, reaching $10.97. 471,300 shares of the company’s stock traded hands, compared to its average volume of 471,757. DNP Select Income Fund Inc. has a 12 month low of $9.71 and a 12 month high of $11.22.

The firm also recently announced a monthly dividend, which will be paid on Monday, February 11th. Stockholders of record on Thursday, January 31st will be issued a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date of this dividend is Wednesday, January 30th.

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DNP Select Income Fund Company 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.

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Institutional Ownership by Quarter for DNP Select Income Fund (NYSE:DNP)

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