Wolverine Asset Management LLC Purchases New Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Wolverine Asset Management LLC purchased a new stake in DNP Select Income Fund Inc. (NYSE:DNP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 165,186 shares of the investment management company’s stock, valued at approximately $1,401,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of DNP Select Income Fund in the 3rd quarter worth $65,000. Tennessee Valley Asset Management Partners acquired a new stake in DNP Select Income Fund during the fourth quarter worth about $65,000. BOK Financial Private Wealth Inc. acquired a new stake in DNP Select Income Fund during the fourth quarter worth about $82,000. Investment Partners Asset Management Inc. acquired a new stake in DNP Select Income Fund during the fourth quarter worth about $85,000. Finally, Saxon Interests Inc. acquired a new stake in shares of DNP Select Income Fund during the 4th quarter worth approximately $86,000. 8.51% of the stock is owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Performance

Shares of NYSE DNP opened at $8.83 on Thursday. The company has a 50 day simple moving average of $8.90 and a 200-day simple moving average of $8.92. DNP Select Income Fund Inc. has a 1 year low of $8.09 and a 1 year high of $11.18.

DNP Select Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.78 annualized dividend and a yield of 8.83%.

About DNP Select Income Fund

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.