Short Interest in DNP Select Income Fund Inc. (NYSE:DNP) Declines By 83.0%

DNP Select Income Fund Inc. (NYSE:DNP) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 40,300 shares, a drop of 83.0% from the January 31st total of 237,700 shares. Based on an average daily trading volume, of 699,300 shares, the short-interest ratio is currently 0.1 days.

DNP Select Income Fund Price Performance

Shares of DNP opened at $9.46 on Friday. The firm has a fifty day moving average price of $9.27 and a 200 day moving average price of $9.42. DNP Select Income Fund has a 1-year low of $8.02 and a 1-year high of $10.04.

DNP Select Income Fund Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were paid a dividend of $0.065 per share. The ex-dividend date was Friday, January 31st. This represents a yield of 8.24%.

Insider Buying and Selling at DNP Select Income Fund

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

Institutional Investors Weigh In On DNP Select Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNP. EverSource Wealth Advisors LLC grew its position in shares of DNP Select Income Fund by 10.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 11,995 shares of the investment management company’s stock worth $106,000 after acquiring an additional 1,110 shares during the last quarter. Kovack Advisors Inc. grew its position in 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 increased its stake in DNP Select Income Fund by 6.4% in the fourth quarter. CreativeOne Wealth LLC now owns 20,204 shares of the investment management company’s stock valued at $178,000 after purchasing an additional 1,210 shares during the period. Tortoise Investment Management LLC raised its holdings in shares of DNP Select Income Fund by 2.0% in the fourth quarter. Tortoise Investment Management LLC now owns 61,439 shares of the investment management company’s stock valued at $542,000 after buying an additional 1,220 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of DNP Select Income Fund by 11.4% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 12,000 shares of the investment management company’s stock worth $106,000 after buying an additional 1,225 shares during the period. Hedge funds and other institutional investors own 8.51% of the company’s stock.

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.