Global Assets Advisory LLC Invests $270,000 in DNP Select Income Fund Inc. (NYSE:DNP)

Global Assets Advisory LLC purchased a new position in shares of DNP Select Income Fund Inc. (NYSE:DNP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,733 shares of the investment management company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DNP. Foundations Investment Advisors LLC raised its stake in DNP Select Income Fund by 205.5% in 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 buying an additional 191,663 shares during the last quarter. Novak & Powell Financial Services Inc. acquired a new position in shares of DNP Select Income Fund in the fourth quarter valued at about $433,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of 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 valued at $8,709,000 after purchasing an additional 800,351 shares during the period. Sowell Financial Services LLC acquired a new position in shares of DNP Select Income Fund in the fourth quarter valued at about $964,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of DNP Select Income Fund in the fourth quarter valued at about $1,401,000. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

Shares of DNP stock opened at $8.32 on Friday. The stock’s 50-day simple moving average is $8.60 and its 200-day simple moving average is $8.73. DNP Select Income Fund Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $10.53.

DNP Select Income Fund Dividend Announcement

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

DNP Select Income Fund 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.