Envestnet Asset Management Inc. Has $1.32 Million Stock Position in DNP Select Income Fund Inc. (NYSE:DNP)

Envestnet Asset Management Inc. raised its holdings in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,600 shares of the investment management company’s stock after acquiring an additional 18,766 shares during the quarter. Envestnet Asset Management Inc.’s holdings in DNP Select Income Fund were worth $1,319,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Crews Bank & Trust acquired a new position in DNP Select Income Fund in the 4th quarter valued at approximately $29,000. UMB Bank n.a. purchased a new position in shares of DNP Select Income Fund during the 4th quarter valued at $34,000. Tandem Financial LLC acquired a new position in shares of DNP Select Income Fund in the fourth quarter worth $34,000. Golden State Wealth Management LLC purchased a new stake in shares of DNP Select Income Fund during the fourth quarter worth $35,000. Finally, Sandy Spring Bank boosted its position in DNP Select Income Fund by 141.4% during the fourth quarter. Sandy Spring Bank now owns 4,951 shares of the investment management company’s stock valued at $44,000 after purchasing an additional 2,900 shares during the last quarter. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Price Performance

Shares of NYSE DNP opened at $9.69 on Wednesday. DNP Select Income Fund Inc. has a 52 week low of $8.02 and a 52 week high of $10.04. The business has a 50 day simple moving average of $9.49 and a 200 day simple moving average of $9.40.

DNP Select Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, May 12th. Investors of record on Wednesday, April 30th will be paid a $0.065 dividend. This represents a $0.78 annualized dividend and a dividend yield of 8.05%. The ex-dividend date is Wednesday, April 30th.

Insider Buying and Selling

In other DNP Select Income Fund news, Director Geraldine M. Mcnamara sold 11,391 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total transaction of $107,189.31. Following the completion of the sale, the director now owns 5,344 shares of the company’s stock, valued at $50,287.04. This represents a 68.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

DNP Select Income Fund Company 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.