Gladstone Institutional Advisory LLC Grows Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Gladstone Institutional Advisory LLC raised its stake in DNP Select Income Fund Inc. (NYSE:DNP) by 189.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,080 shares of the investment management company’s stock after purchasing an additional 22,320 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in DNP Select Income Fund were worth $289,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC grew its stake in shares of DNP Select Income Fund by 205.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 284,936 shares of the investment management company’s stock valued at $2,582,000 after acquiring an additional 191,663 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in DNP Select Income Fund by 353.1% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,027,018 shares of the investment management company’s stock worth $8,709,000 after purchasing an additional 800,351 shares in the last quarter. Sowell Financial Services LLC acquired a new position in DNP Select Income Fund in the fourth quarter worth about $964,000. Wolverine Asset Management LLC acquired a new position in DNP Select Income Fund in the fourth quarter worth about $1,401,000. Finally, Fisher Asset Management LLC grew its stake in DNP Select Income Fund by 40.2% in the fourth quarter. Fisher Asset Management LLC now owns 14,616 shares of the investment management company’s stock worth $124,000 after purchasing an additional 4,189 shares in the last quarter. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Trading Down 1.7 %

NYSE:DNP opened at $8.61 on Friday. DNP Select Income Fund Inc. has a one year low of $8.09 and a one year high of $10.53. The stock has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $8.83.

DNP Select Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 31st will be paid a $0.065 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.78 dividend on an annualized basis and a yield of 9.06%.

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.