Virtu Financial LLC Makes New Investment in DNP Select Income Fund Inc. (NYSE:DNP)

Virtu Financial LLC purchased a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 50,299 shares of the investment management company’s stock, valued at approximately $444,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in DNP Select Income Fund during the fourth quarter valued at approximately $7,738,000. Kentucky Trust Co purchased a new position in shares of DNP Select Income Fund during the 4th quarter valued at $5,598,000. Wolverine Asset Management LLC bought a new position in shares of DNP Select Income Fund in the fourth quarter worth $2,915,000. IHT Wealth Management LLC raised its position in shares of DNP Select Income Fund by 257.6% in the third quarter. IHT Wealth Management LLC now owns 425,789 shares of the investment management company’s stock worth $4,275,000 after buying an additional 306,712 shares in the last quarter. Finally, Essential Planning LLC. purchased a new stake in shares of DNP Select Income Fund in the fourth quarter worth $1,440,000. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Stock Performance

DNP Select Income Fund stock opened at $9.77 on Thursday. The business has a 50-day simple moving average of $9.45 and a 200 day simple 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 Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 30th will be given a $0.065 dividend. This represents a $0.78 annualized dividend and a dividend yield of 7.99%. The ex-dividend date is Monday, June 30th.

Insider Activity at DNP Select Income Fund

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total value of $107,189.31. Following the transaction, the director now owns 5,344 shares of the company’s stock, valued at $50,287.04. This represents a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

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.