Independent Financial Group LLC Makes New $907,000 Investment in DNP Select Income Fund Inc. $DNP

Independent Financial Group LLC acquired a new stake in DNP Select Income Fund Inc. (NYSE:DNP) during the first quarter, according to its most recent filing with the SEC. The firm acquired 88,068 shares of the investment management company’s stock, valued at approximately $907,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in DNP Select Income Fund by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,444 shares of the investment management company’s stock valued at $171,000 after acquiring an additional 2,568 shares during the last quarter. Cresset Asset Management LLC raised its holdings in DNP Select Income Fund by 3.2% during the 2nd quarter. Cresset Asset Management LLC now owns 41,953 shares of the investment management company’s stock worth $413,000 after purchasing an additional 1,312 shares during the last quarter. NewEdge Advisors LLC raised its holdings in DNP Select Income Fund by 31.4% during the 2nd quarter. NewEdge Advisors LLC now owns 52,318 shares of the investment management company’s stock worth $512,000 after purchasing an additional 12,499 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in DNP Select Income Fund during the 2nd quarter valued at about $115,000. Finally, Raymond James Financial Inc. lifted its position in DNP Select Income Fund by 5.4% during the 2nd quarter. Raymond James Financial Inc. now owns 962,109 shares of the investment management company’s stock valued at $9,419,000 after purchasing an additional 48,905 shares during the period. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Stock Down 0.6%

Shares of NYSE DNP opened at $10.98 on Wednesday. DNP Select Income Fund Inc. has a 1 year low of $9.69 and a 1 year high of $11.16. The firm’s 50-day moving average is $10.82 and its 200-day moving average is $10.49.

DNP Select Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

DNP Select Income Fund Profile

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund’s primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.