Envestnet Asset Management Inc. Increases Holdings in DNP Select Income Fund Inc. $DNP

Envestnet Asset Management Inc. boosted its position in DNP Select Income Fund Inc. (NYSE:DNP) by 13.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,535 shares of the investment management company’s stock after purchasing an additional 16,008 shares during the period. Envestnet Asset Management Inc.’s holdings in DNP Select Income Fund were worth $1,337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DNP. Ameritas Advisory Services LLC purchased a new stake in DNP Select Income Fund during the second quarter worth $27,000. IFP Advisors Inc raised its stake in shares of DNP Select Income Fund by 25.6% during the 1st quarter. IFP Advisors Inc now owns 5,931 shares of the investment management company’s stock worth $59,000 after buying an additional 1,210 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of DNP Select Income Fund during the 2nd quarter worth $64,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of DNP Select Income Fund in the 1st quarter worth about $78,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of DNP Select Income Fund in the 2nd quarter worth about $82,000. 8.51% of the stock is owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Performance

NYSE:DNP opened at $10.09 on Friday. The firm has a 50-day moving average price of $10.04 and a two-hundred day moving average price of $9.86. DNP Select Income Fund Inc. has a twelve month low of $8.69 and a twelve month high of $10.25.

DNP Select Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 12th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Wednesday, December 31st.

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.