J.W. Cole Advisors Inc. Grows Position in DNP Select Income Fund Inc. (NYSE:DNP)

J.W. Cole Advisors Inc. lifted its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 396,842 shares of the investment management company’s stock after buying an additional 22,533 shares during the period. J.W. Cole Advisors Inc. owned approximately 0.11% of DNP Select Income Fund worth $3,365,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in DNP Select Income Fund by 353.1% during 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 acquiring an additional 800,351 shares during the period. Morgan Stanley grew its stake in shares of DNP Select Income Fund by 10.1% during the 3rd quarter. Morgan Stanley now owns 5,331,541 shares of the investment management company’s stock worth $50,756,000 after purchasing an additional 487,584 shares during the period. N.E.W. Advisory Services LLC increased its holdings in shares of DNP Select Income Fund by 1,893.4% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 423,309 shares of the investment management company’s stock valued at $4,030,000 after purchasing an additional 402,073 shares in the last quarter. Imprint Wealth LLC lifted its stake in shares of DNP Select Income Fund by 954.5% in the 2nd quarter. Imprint Wealth LLC now owns 287,615 shares of the investment management company’s stock valued at $28,762,000 after purchasing an additional 260,340 shares during the period. Finally, Bank of America Corp DE grew its position in shares of DNP Select Income Fund by 21.9% in the fourth quarter. Bank of America Corp DE now owns 936,272 shares of the investment management company’s stock valued at $10,533,000 after purchasing an additional 168,315 shares during the period. 8.51% of the stock is owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Up 0.3 %

Shares of DNP stock traded up $0.03 on Friday, reaching $8.80. 347,227 shares of the company were exchanged, compared to its average volume of 527,574. DNP Select Income Fund Inc. has a 1 year low of $8.09 and a 1 year high of $11.18. The business has a 50-day moving average price of $8.89 and a 200 day moving average price of $8.93.

DNP Select Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.86%.

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.