Arlington Capital Management Inc. Purchases 56,207 Shares of DNP Select Income Fund Inc. $DNP

Arlington Capital Management Inc. boosted its position in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 136.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,280 shares of the investment management company’s stock after buying an additional 56,207 shares during the period. Arlington Capital Management Inc.’s holdings in DNP Select Income Fund were worth $972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlantic Union Bankshares Corp lifted its stake in DNP Select Income Fund by 678.5% during the third quarter. Atlantic Union Bankshares Corp now owns 183,942 shares of the investment management company’s stock worth $1,841,000 after purchasing an additional 160,314 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of DNP Select Income Fund by 4.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,449,269 shares of the investment management company’s stock valued at $14,507,000 after purchasing an additional 65,175 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of DNP Select Income Fund during the 3rd quarter worth $2,211,000. Kingsview Wealth Management LLC raised its holdings in shares of DNP Select Income Fund by 33.0% during the 2nd quarter. Kingsview Wealth Management LLC now owns 149,956 shares of the investment management company’s stock worth $1,468,000 after buying an additional 37,249 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of DNP Select Income Fund by 13.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 136,535 shares of the investment management company’s stock worth $1,337,000 after buying an additional 16,008 shares during the last quarter. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Down 1.0%

NYSE:DNP opened at $10.20 on Friday. DNP Select Income Fund Inc. has a twelve month low of $8.69 and a twelve month high of $10.65. The stock’s 50-day simple moving average is $10.26 and its 200 day simple moving average is $10.11.

DNP Select Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a $0.065 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Tuesday, June 30th.

Insider Activity

In related news, Director Mark G. Kahrer purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were bought at an average cost of $10.21 per share, with a total value of $204,200.00. Following the acquisition, the director owned 23,000 shares of the company’s stock, valued at $234,830. This trade represents a 666.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.02% of the company’s stock.

DNP Select Income Fund Profile

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund’s primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.