Arlington Capital Management Inc. Makes New $729,000 Investment in DNP Select Income Fund Inc. (NYSE:DNP)

Arlington Capital Management Inc. purchased a new stake in DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 82,652 shares of the investment management company’s stock, valued at approximately $729,000.

Several other large investors have also recently added to or reduced their stakes in DNP. LPL Financial LLC grew its stake in shares of DNP Select Income Fund by 2.0% during the fourth quarter. LPL Financial LLC now owns 2,202,234 shares of the investment management company’s stock valued at $19,424,000 after purchasing an additional 42,768 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in DNP Select Income Fund by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,159,114 shares of the investment management company’s stock valued at $10,223,000 after buying an additional 60,825 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of DNP Select Income Fund during the fourth quarter worth $7,738,000. Apollon Wealth Management LLC lifted its position in DNP Select Income Fund by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 864,905 shares of the investment management company’s stock valued at $7,628,000 after purchasing an additional 11,890 shares during the period. Finally, J.W. Cole Advisors Inc. grew its position in shares of DNP Select Income Fund by 23.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 766,719 shares of the investment management company’s stock worth $6,762,000 after buying an additional 145,449 shares during the period. 8.51% of the stock is owned by institutional investors.

DNP Select Income Fund Stock Performance

Shares of NYSE DNP opened at $9.63 on Wednesday. The company’s 50 day simple moving average is $9.44 and its 200 day simple moving average is $9.45. DNP Select Income Fund Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $10.04.

DNP Select Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be issued a $0.065 dividend. This represents a $0.78 annualized dividend and a dividend yield of 8.10%. The ex-dividend date is Monday, June 30th.

Insider Activity at DNP Select Income Fund

In other DNP Select Income Fund news, Director Geraldine M. Mcnamara sold 11,391 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 directly owns 5,344 shares of the company’s stock, valued at approximately $50,287.04. The trade was a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.