DNP Select Income Fund Inc. $DNP Stock Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its position in DNP Select Income Fund Inc. (NYSE:DNP) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,670,139 shares of the investment management company’s stock after buying an additional 95,820 shares during the period. Commonwealth Equity Services LLC’s holdings in DNP Select Income Fund were worth $15,983,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in DNP Select Income Fund during the 2nd quarter valued at approximately $10,932,000. Kingsview Wealth Management LLC bought a new stake in DNP Select Income Fund in the 2nd quarter worth approximately $3,003,000. Beacon Pointe Advisors LLC bought a new stake in DNP Select Income Fund in the 2nd quarter worth approximately $1,499,000. Commerce Bank bought a new stake in DNP Select Income Fund in the 2nd quarter worth approximately $1,790,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of DNP Select Income Fund during the 2nd quarter worth approximately $5,876,000. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

DNP Select Income Fund Stock Down 0.5%

Shares of DNP opened at $10.12 on Wednesday. DNP Select Income Fund Inc. has a 1 year low of $9.23 and a 1 year high of $11.16. The business’s 50 day simple moving average is $10.07 and its 200-day simple moving average is $10.49.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, January 11th. Investors of record on Thursday, December 31st will be given a $0.0650 dividend. This represents a $0.78 annualized dividend and a yield of 7.7%. The ex-dividend date is Thursday, December 31st.

DNP Select Income Fund Profile

DNP Select Income Fund is a closed-end investment company focused on generating current income and seeking long-term growth of income and capital. Its portfolio invests primarily in companies involved in the utility sector. The fund holds securities issued by electric and natural gas utilities, as well as other infrastructure-related businesses. Its investments are concentrated mainly in the United States. Established in 1987, DNP Select Income Fund is managed by Duff & Phelps Investment Management Co., an investment adviser specializing in utility and infrastructure investments.