Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires Shares of 13,000 DNP Select Income Fund Inc. (NYSE:DNP)

Posted by Joseph Griffin on May 10th, 2024

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of DNP Select Income Fund Inc. (NYSE:DNP – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,000 shares of the investment management company’s stock, valued at approximately $110,000.

Several other institutional investors and hedge funds have also modified their holdings of DNP. NBC Securities Inc. acquired a new stake in DNP Select Income Fund during the third quarter valued at $65,000. Tennessee Valley Asset Management Partners bought a new stake in shares of DNP Select Income Fund in the 4th quarter valued at approximately $65,000. BOK Financial Private Wealth Inc. acquired a new position in DNP Select Income Fund in the fourth quarter worth approximately $82,000. Investment Partners Asset Management Inc. bought a new position in DNP Select Income Fund during the fourth quarter valued at approximately $85,000. Finally, Saxon Interests Inc. bought a new position in DNP Select Income Fund during the fourth quarter valued at approximately $86,000. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

DNP Select Income Fund Price Performance

DNP stock opened at $8.93 on Friday. The firm has a 50 day moving average of $8.90 and a two-hundred day moving average of $8.86. DNP Select Income Fund Inc. has a 12 month low of $8.09 and a 12 month high of $10.70.

DNP Select Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 31st will be given a dividend of $0.065 per share. This represents a $0.78 annualized dividend and a yield of 8.73%. The ex-dividend date is Friday, May 31st.

About DNP Select Income Fund

(Free Report)

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.