RDA Financial Network Boosts Stock Position in DNP Select Income Fund Inc. $DNP

RDA Financial Network raised its holdings in DNP Select Income Fund Inc. (NYSE:DNP) by 46.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 257,592 shares of the investment management company’s stock after buying an additional 82,161 shares during the period. RDA Financial Network’s holdings in DNP Select Income Fund were worth $2,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DNP. Ameriflex Group Inc. boosted its stake in shares of DNP Select Income Fund by 100.0% during the third quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 1,500 shares during the period. City Holding Co. purchased a new position in DNP Select Income Fund in the 3rd quarter worth about $37,000. Private Wealth Asset Management LLC bought a new stake in DNP Select Income Fund during the 3rd quarter valued at about $44,000. Jones Financial Companies Lllp bought a new stake in DNP Select Income Fund during the 3rd quarter valued at about $83,000. Finally, Harpswell Capital Advisors LLC purchased a new stake in DNP Select Income Fund in the 3rd quarter valued at about $100,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Stock Down 1.0%

Shares of NYSE:DNP opened at $10.20 on Friday. The firm’s 50 day simple moving average is $10.26 and its 200-day simple moving average is $10.11. DNP Select Income Fund Inc. has a one year low of $8.69 and a one year high of $10.65.

DNP Select Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 7.6%.

Insider Buying and Selling

In other news, Director Mark G. Kahrer bought 20,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was acquired at an average cost of $10.21 per share, with a total value of $204,200.00. Following the transaction, the director directly owned 23,000 shares in the company, valued at approximately $234,830. This trade represents a 666.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.02% of the stock is owned by insiders.

DNP Select Income Fund 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.