Jacobi Capital Management LLC Raises Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Jacobi Capital Management LLC increased its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 51.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,512 shares of the investment management company’s stock after purchasing an additional 7,347 shares during the period. Jacobi Capital Management LLC’s holdings in DNP Select Income Fund were worth $190,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Safe Harbor Fiduciary LLC bought a new position in shares of DNP Select Income Fund during the 3rd quarter valued at about $28,000. Crews Bank & Trust bought a new position in DNP Select Income Fund during the 4th quarter worth approximately $29,000. UMB Bank n.a. bought a new position in DNP Select Income Fund during the 4th quarter worth approximately $34,000. Tandem Financial LLC bought a new position in DNP Select Income Fund during the 4th quarter worth approximately $34,000. Finally, Golden State Wealth Management LLC bought a new position in DNP Select Income Fund during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.

Insider Transactions at DNP Select Income Fund

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the firm’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 value of $107,189.31. Following the completion of the transaction, the director now owns 5,344 shares in the company, valued at $50,287.04. This trade represents a 68.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

DNP Select Income Fund Stock Performance

DNP opened at $9.54 on Tuesday. The stock’s 50 day simple moving average is $9.29 and its 200 day simple moving average is $9.44. DNP Select Income Fund Inc. has a 1 year low of $8.02 and a 1 year high of $10.04.

DNP Select Income Fund Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a $0.065 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a dividend yield of 8.24%.

DNP Select Income Fund 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.