Mercer Global Advisors Inc. ADV Makes New Investment in DNP Select Income Fund Inc. (NYSE:DNP)

Mercer Global Advisors Inc. ADV bought a new position in DNP Select Income Fund Inc. (NYSE:DNP) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 14,434 shares of the investment management company’s stock, valued at approximately $127,000.

Several other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of DNP Select Income Fund by 10.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 11,995 shares of the investment management company’s stock worth $106,000 after buying an additional 1,110 shares during the period. Kovack Advisors Inc. lifted its stake in shares of DNP Select Income Fund by 2.4% during the 4th quarter. Kovack Advisors Inc. now owns 50,329 shares of the investment management company’s stock worth $444,000 after purchasing an additional 1,184 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in shares of DNP Select Income Fund by 6.4% during the 4th quarter. CreativeOne Wealth LLC now owns 20,204 shares of the investment management company’s stock worth $178,000 after purchasing an additional 1,210 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in shares of DNP Select Income Fund by 2.0% during the 4th quarter. Tortoise Investment Management LLC now owns 61,439 shares of the investment management company’s stock worth $542,000 after purchasing an additional 1,220 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of DNP Select Income Fund by 11.4% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 12,000 shares of the investment management company’s stock worth $106,000 after purchasing an additional 1,225 shares during the last quarter. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the company’s stock in a transaction 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 directly owns 5,344 shares in the company, valued at $50,287.04. This represents a 68.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

DNP Select Income Fund Stock Performance

Shares of NYSE DNP opened at $9.83 on Friday. DNP Select Income Fund Inc. has a 1-year low of $8.02 and a 1-year high of $10.04. The business has a fifty day moving average price of $9.53 and a 200 day moving average price of $9.39.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, May 12th. Investors of record on Wednesday, April 30th were paid a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 7.94%. The ex-dividend date was Wednesday, April 30th.

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.