Mark Kahrer Buys 20,000 Shares of DNP Select Income Fund (NYSE:DNP) Stock

DNP Select Income Fund Inc. (NYSE:DNP) Director Mark Kahrer bought 20,000 shares of DNP Select Income Fund stock in a transaction dated Wednesday, February 11th. The stock was purchased at an average cost of $10.21 per share, for a total transaction of $204,200.00. Following the purchase, the director owned 23,000 shares of the company’s stock, valued at approximately $234,830. This trade represents a 666.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

DNP Select Income Fund Stock Performance

DNP Select Income Fund stock opened at $10.45 on Friday. DNP Select Income Fund Inc. has a 12-month low of $8.69 and a 12-month high of $10.45. The firm has a 50-day moving average price of $10.05 and a 200-day moving average price of $10.01.

DNP Select Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 7.5%.

Institutional Investors Weigh In On DNP Select Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of DNP. Ameritas Advisory Services LLC bought a new stake in shares of DNP Select Income Fund during the 2nd quarter worth approximately $27,000. Ameriflex Group Inc. increased its stake in DNP Select Income Fund by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company’s stock worth $30,000 after purchasing an additional 1,500 shares during the period. Parallel Advisors LLC bought a new stake in shares of DNP Select Income Fund during the fourth quarter worth $32,000. Smithfield Trust Co purchased a new stake in shares of DNP Select Income Fund during the fourth quarter valued at $33,000. Finally, Spire Wealth Management boosted its stake in shares of DNP Select Income Fund by 84.9% during the fourth quarter. Spire Wealth Management now owns 3,400 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 1,561 shares during the period. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

DNP Select Income Fund Company Profile

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund’s primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.