Axxcess Wealth Management LLC Cuts Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Axxcess Wealth Management LLC lessened its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 44.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,644 shares of the investment management company’s stock after selling 46,233 shares during the quarter. Axxcess Wealth Management LLC’s holdings in DNP Select Income Fund were worth $480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in DNP Select Income Fund by 353.1% during the 4th 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 position in shares of DNP Select Income Fund during the fourth quarter worth $964,000. Wolverine Asset Management LLC acquired a new position in shares of DNP Select Income Fund during the fourth quarter worth $1,401,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of DNP Select Income Fund in the third quarter valued at $108,000. Finally, Advisor Resource Council acquired a new stake in DNP Select Income Fund during the 4th quarter valued at $352,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Trading Up 0.7 %

Shares of DNP stock opened at $8.80 on Wednesday. The company’s fifty day moving average price is $8.89 and its two-hundred day moving average price is $8.86. DNP Select Income Fund Inc. has a 12 month low of $8.09 and a 12 month high of $10.70.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 31st will be issued a $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 8.87%. The ex-dividend date of this dividend is Friday, May 31st.

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.