Essex Financial Services Inc. Takes Position in DNP Select Income Fund Inc. (NYSE:DNP)

Essex Financial Services Inc. bought a new stake in DNP Select Income Fund Inc. (NYSE:DNP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,611 shares of the investment management company’s stock, valued at approximately $104,000.

Other hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC raised its stake in shares of DNP Select Income Fund by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 3,000 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 1,500 shares during the period. Principal Securities Inc. purchased a new position in shares of DNP Select Income Fund in the 4th quarter valued at $44,000. EdgeRock Capital LLC purchased a new position in shares of DNP Select Income Fund in the 2nd quarter valued at $49,000. Saxon Interests Inc. purchased a new position in shares of DNP Select Income Fund in the 2nd quarter valued at $82,000. Finally, Keeley Teton Advisors LLC purchased a new position in shares of DNP Select Income Fund in the 4th quarter valued at $89,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

Shares of DNP stock opened at $9.48 on Wednesday. The company’s fifty day simple moving average is $8.83 and its 200-day simple moving average is $8.79. DNP Select Income Fund Inc. has a 52 week low of $8.02 and a 52 week high of $10.12.

DNP Select Income Fund Announces Dividend

The company also recently declared a dividend, which was paid on Monday, August 12th. Investors of record on Thursday, August 1st were issued a dividend of $0.065 per share. This represents a yield of 8.7%. The ex-dividend date of this dividend was Wednesday, July 31st.

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.