Tortoise Investment Management LLC Invests $760,000 in DNP Select Income Fund Inc. $DNP

Tortoise Investment Management LLC acquired a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) in the second quarter, HoldingsChannel.com reports. The fund acquired 70,472 shares of the investment management company’s stock, valued at approximately $760,000.

A number of other hedge funds have also recently modified their holdings of the business. Axiom Investment Management LLC bought a new position in DNP Select Income Fund in the 1st quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of DNP Select Income Fund during the 4th quarter valued at about $28,000. Global Retirement Partners LLC purchased a new position in shares of DNP Select Income Fund during the 2nd quarter valued at about $31,000. Parallel Advisors LLC bought a new position in shares of DNP Select Income Fund during the 4th quarter valued at approximately $32,000. Finally, Smithfield Trust Co bought a new position in shares of DNP Select Income Fund during the 4th quarter valued at approximately $33,000. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

DNP Select Income Fund stock opened at $10.94 on Tuesday. The firm has a 50 day moving average of $10.88 and a 200 day moving average of $10.61. DNP Select Income Fund Inc. has a 12-month low of $9.69 and a 12-month high of $11.16.

DNP Select Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be given a $0.065 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Wednesday, September 30th.

DNP Select Income Fund Profile

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.