Sovereign Financial Group Inc. Decreases Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Sovereign Financial Group Inc. lessened its position in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 13.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,515 shares of the investment management company’s stock after selling 4,600 shares during the quarter. Sovereign Financial Group Inc.’s holdings in DNP Select Income Fund were worth $296,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of DNP Select Income Fund by 6.2% in the 2nd 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 purchasing an additional 72,687 shares during the last quarter. Cetera Investment Advisers grew its position in shares of DNP Select Income Fund by 571.5% in the 1st quarter. Cetera Investment Advisers now owns 1,228,662 shares of the investment management company’s stock worth $11,144,000 after buying an additional 1,045,691 shares during the last quarter. Hartline Investment Corp purchased a new stake in DNP Select Income Fund in the first quarter valued at about $10,604,000. Commonwealth Equity Services LLC increased its position in shares of DNP Select Income Fund by 7.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 1,036,658 shares of the investment management company’s stock valued at $8,521,000 after acquiring an additional 74,012 shares during the period. Finally, Apollon Wealth Management LLC lifted its stake in DNP Select Income Fund by 1.9% during the 2nd quarter. Apollon Wealth Management LLC now owns 829,234 shares of the investment management company’s stock valued at $6,816,000 after acquiring an additional 15,819 shares during the period. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

DNP Select Income Fund stock opened at $9.49 on Thursday. The business’s 50-day moving average price is $9.48 and its 200 day moving average price is $8.94. DNP Select Income Fund Inc. has a 52 week low of $8.02 and a 52 week high of $10.04.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a yield of 8.22%. The ex-dividend date 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.