Kovack Advisors Inc. Boosts Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Kovack Advisors Inc. increased its position in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,329 shares of the investment management company’s stock after purchasing an additional 1,184 shares during the period. Kovack Advisors Inc.’s holdings in DNP Select Income Fund were worth $444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DNP. GPS Wealth Strategies Group LLC increased its position in shares of DNP Select Income Fund by 11.4% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 12,000 shares of the investment management company’s stock valued at $106,000 after acquiring an additional 1,225 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of DNP Select Income Fund by 11.2% during the third quarter. OneDigital Investment Advisors LLC now owns 12,508 shares of the investment management company’s stock valued at $126,000 after acquiring an additional 1,263 shares during the last quarter. First Heartland Consultants Inc. increased its position in shares of DNP Select Income Fund by 0.5% during the third quarter. First Heartland Consultants Inc. now owns 277,516 shares of the investment management company’s stock valued at $2,789,000 after acquiring an additional 1,363 shares during the last quarter. Stratos Wealth Advisors LLC increased its position in shares of DNP Select Income Fund by 0.7% during the fourth quarter. Stratos Wealth Advisors LLC now owns 240,976 shares of the investment management company’s stock valued at $2,125,000 after acquiring an additional 1,749 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of DNP Select Income Fund by 62.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 6,024 shares of the investment management company’s stock valued at $53,000 after acquiring an additional 2,324 shares during the last quarter. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Trading Up 1.2 %

Shares of DNP opened at $9.57 on Friday. DNP Select Income Fund Inc. has a 1-year low of $8.02 and a 1-year high of $10.04. The firm has a 50-day simple moving average of $9.27 and a two-hundred day simple moving average of $9.42.

DNP Select Income Fund Announces Dividend

The business also recently declared a dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were given a dividend of $0.065 per share. This represents a dividend yield of 8.24%. The ex-dividend date of this dividend was Friday, January 31st.

Insider Buying and Selling at DNP Select Income Fund

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.41, for a total value of $107,189.31. Following the completion of the transaction, the director now owns 5,344 shares of the company’s stock, valued at approximately $50,287.04. This trade represents a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

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.