DNP Select Income Fund (NYSE:DNP) Director Purchases $204,200.00 in Stock

DNP Select Income Fund Inc. (NYSE:DNP) Director Mark Kahrer acquired 20,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were purchased at an average cost of $10.21 per share, for a total transaction of $204,200.00. Following the completion of the transaction, the director owned 23,000 shares in the company, valued at approximately $234,830. This represents a 666.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

DNP Select Income Fund Trading Up 0.3%

Shares of DNP traded up $0.04 on Thursday, reaching $10.29. The stock had a trading volume of 793,886 shares, compared to its average volume of 658,592. The company has a 50-day simple moving average of $10.04 and a 200-day simple moving average of $10.00. DNP Select Income Fund Inc. has a 12-month low of $8.69 and a 12-month high of $10.35.

DNP Select Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a dividend of $0.065 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Tuesday, March 31st.

Hedge Funds Weigh In On DNP Select Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in DNP. Commonwealth Equity Services LLC increased its position in DNP Select Income Fund by 3.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,497,243 shares of the investment management company’s stock worth $14,957,000 after buying an additional 47,974 shares in the last quarter. Principal Securities Inc. grew its holdings in DNP Select Income Fund by 4,601.3% during the 4th quarter. Principal Securities Inc. now owns 114,852 shares of the investment management company’s stock valued at $1,147,000 after buying an additional 112,409 shares in the last quarter. Kovack Advisors Inc. raised its stake in DNP Select Income Fund by 7.4% during the fourth quarter. Kovack Advisors Inc. now owns 60,441 shares of the investment management company’s stock valued at $589,000 after purchasing an additional 4,173 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of DNP Select Income Fund by 16.3% in the 4th quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company’s stock valued at $30,579,000 after acquiring an additional 430,094 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of DNP Select Income Fund in the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors 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.