Private Advisor Group LLC Reduces Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Private Advisor Group LLC lowered its stake in DNP Select Income Fund Inc. (NYSE:DNP) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,296 shares of the investment management company’s stock after selling 18,934 shares during the period. Private Advisor Group LLC’s holdings in DNP Select Income Fund were worth $1,218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of DNP Select Income Fund by 6.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,241,779 shares of the investment management company’s stock valued at $10,207,000 after acquiring an additional 72,687 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of DNP Select Income Fund by 571.5% during the first quarter. Cetera Investment Advisers now owns 1,228,662 shares of the investment management company’s stock valued at $11,144,000 after acquiring an additional 1,045,691 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in DNP Select Income Fund by 7.7% in the second quarter. Commonwealth Equity Services LLC now owns 1,036,658 shares of the investment management company’s stock worth $8,521,000 after buying an additional 74,012 shares in the last quarter. Apollon Wealth Management LLC raised its stake in DNP Select Income Fund by 1.9% in the second quarter. Apollon Wealth Management LLC now owns 829,234 shares of the investment management company’s stock worth $6,816,000 after buying an additional 15,819 shares in the last quarter. Finally, Raymond James & Associates raised its stake in DNP Select Income Fund by 4.9% in the third quarter. Raymond James & Associates now owns 565,350 shares of the investment management company’s stock worth $5,676,000 after buying an additional 26,351 shares in the last quarter. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

Shares of NYSE:DNP opened at $9.54 on Friday. DNP Select Income Fund Inc. has a 52 week low of $8.02 and a 52 week high of $10.04. The firm has a 50 day moving average of $9.68 and a 200 day moving average of $9.01.

DNP Select Income Fund Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a dividend of $0.065 per share. This represents a dividend yield of 8.15%. The ex-dividend date of this dividend is Thursday, October 31st.

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.