Short Interest in DNP Select Income Fund Inc. (NYSE:DNP) Increases By 32.2%

DNP Select Income Fund Inc. (NYSE:DNP) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 150,200 shares, an increase of 32.2% from the February 28th total of 113,600 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 718,200 shares, the days-to-cover ratio is currently 0.2 days.

DNP Select Income Fund Stock Down 0.2 %

DNP stock traded down $0.02 during midday trading on Wednesday, reaching $9.79. 409,123 shares of the company’s stock traded hands, compared to its average volume of 672,184. DNP Select Income Fund has a 52-week low of $8.02 and a 52-week high of $10.04. The stock’s 50-day moving average is $9.49 and its 200 day moving average is $9.46.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, May 12th. Stockholders of record on Wednesday, April 30th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.78 annualized dividend and a dividend yield of 7.97%.

Insider Buying and Selling at DNP Select Income Fund

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were 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 owns 5,344 shares of the company’s stock, valued at $50,287.04. This represents a 68.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DNP Select Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in DNP Select Income Fund by 995.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,578,766 shares of the investment management company’s stock worth $13,925,000 after buying an additional 1,434,708 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in DNP Select Income Fund in the 4th quarter worth approximately $7,738,000. Kentucky Trust Co bought a new position in shares of DNP Select Income Fund in the fourth quarter worth approximately $5,598,000. Wolverine Asset Management LLC bought a new stake in shares of DNP Select Income Fund during the 4th quarter valued at $2,915,000. Finally, IHT Wealth Management LLC lifted its stake in shares of DNP Select Income Fund by 257.6% during the 3rd quarter. IHT Wealth Management LLC now owns 425,789 shares of the investment management company’s stock valued at $4,275,000 after buying an additional 306,712 shares in the last quarter. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

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.