35,895 Shares in DNP Select Income Fund Inc. (NYSE:DNP) Bought by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. acquired a new stake in DNP Select Income Fund Inc. (NYSE:DNP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,895 shares of the investment management company’s stock, valued at approximately $326,000.

Several other hedge funds also recently made changes to their positions in DNP. UBS Group AG boosted its position in shares of DNP Select Income Fund by 4.9% in the 3rd quarter. UBS Group AG now owns 652,492 shares of the investment management company’s stock valued at $6,212,000 after purchasing an additional 30,278 shares during the period. Axxcess Wealth Management LLC lifted its stake in DNP Select Income Fund by 13.7% in the third quarter. Axxcess Wealth Management LLC now owns 102,877 shares of the investment management company’s stock valued at $979,000 after buying an additional 12,400 shares during the last quarter. Scotia Capital Inc. increased its holdings in shares of DNP Select Income Fund by 16.2% in the 3rd quarter. Scotia Capital Inc. now owns 113,746 shares of the investment management company’s stock valued at $1,083,000 after acquiring an additional 15,843 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in DNP Select Income Fund in the 3rd quarter valued at $108,000. Finally, Gill Capital Partners LLC grew its position in DNP Select Income Fund by 9.4% during the 4th quarter. Gill Capital Partners LLC now owns 30,300 shares of the investment management company’s stock worth $257,000 after purchasing an additional 2,595 shares during the last quarter. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

NYSE DNP opened at $8.32 on Friday. The business’s 50-day moving average price is $8.60 and its 200 day moving average price is $8.73. DNP Select Income Fund Inc. has a 52-week low of $8.02 and a 52-week high of $10.53.

DNP Select Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be given a $0.065 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.78 dividend on an annualized basis and a yield of 9.38%.

About DNP Select Income Fund

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.