DNP Select Income Fund Inc. (NYSE:DNP) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC decreased its holdings in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 19.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,488 shares of the investment management company’s stock after selling 6,503 shares during the period. Merit Financial Group LLC’s holdings in DNP Select Income Fund were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. NBC Securities Inc. acquired a new stake in shares of DNP Select Income Fund in the 3rd quarter worth $65,000. Tennessee Valley Asset Management Partners acquired a new position in DNP Select Income Fund in the 4th quarter valued at about $65,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of DNP Select Income Fund during the 4th quarter worth about $82,000. Investment Partners Asset Management Inc. purchased a new stake in shares of DNP Select Income Fund during the fourth quarter worth about $85,000. Finally, Saxon Interests Inc. purchased a new stake in shares of DNP Select Income Fund during the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

Shares of DNP opened at $8.93 on Friday. DNP Select Income Fund Inc. has a 1 year low of $8.09 and a 1 year high of $10.70. The company’s 50 day simple moving average is $8.90 and its 200 day simple moving average is $8.86.

DNP Select Income Fund Announces Dividend

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

DNP Select Income Fund Company 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.