Apollon Wealth Management LLC Has $6.26 Million Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Apollon Wealth Management LLC raised its holdings in DNP Select Income Fund Inc. (NYSE:DNP) by 21.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 738,710 shares of the investment management company’s stock after acquiring an additional 131,858 shares during the quarter. Apollon Wealth Management LLC’s holdings in DNP Select Income Fund were worth $6,264,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in DNP Select Income Fund by 353.1% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,027,018 shares of the investment management company’s stock worth $8,709,000 after acquiring an additional 800,351 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in DNP Select Income Fund in the fourth quarter valued at $964,000. Wolverine Asset Management LLC bought a new stake in shares of DNP Select Income Fund in the 4th quarter valued at about $1,401,000. B. Riley Wealth Advisors Inc. bought a new stake in DNP Select Income Fund in the third quarter valued at approximately $108,000. Finally, Advisor Resource Council bought a new position in shares of DNP Select Income Fund during the 4th quarter worth approximately $352,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Price Performance

DNP stock remained flat at $8.73 during midday trading on Monday. 630,479 shares of the company’s stock were exchanged, compared to its average volume of 620,712. DNP Select Income Fund Inc. has a 1 year low of $8.09 and a 1 year high of $10.70. The stock’s 50 day simple moving average is $8.90 and its 200-day simple moving average is $8.87.

DNP Select Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.93%.

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.