Capital Investment Advisory Services LLC Trims Position in DNP Select Income Fund Inc. (NYSE:DNP)

Capital Investment Advisory Services LLC lessened its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 22.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,878 shares of the investment management company’s stock after selling 11,865 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in DNP Select Income Fund were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new position in shares of DNP Select Income Fund during the third quarter worth about $65,000. Tennessee Valley Asset Management Partners purchased a new position in shares of DNP Select Income Fund during the fourth quarter worth about $65,000. BOK Financial Private Wealth Inc. purchased a new position in shares of DNP Select Income Fund during the fourth quarter worth about $82,000. Broadleaf Partners LLC purchased a new position in shares of DNP Select Income Fund during the third quarter worth about $95,000. Finally, Investment Partners Asset Management Inc. purchased a new position in shares of DNP Select Income Fund during the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

Shares of NYSE DNP opened at $8.83 on Wednesday. The business has a 50-day moving average of $8.90 and a 200-day moving average of $8.92. DNP Select Income Fund Inc. has a 12 month low of $8.09 and a 12 month high of $11.18.

DNP Select Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be paid a $0.065 dividend. This represents a $0.78 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend is Monday, April 29th.

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.