Insider Buying: DNP Select Income Fund Inc. (NYSE:DNP) CEO Acquires 2,000 Shares of Stock

DNP Select Income Fund Inc. (NYSE:DNP) CEO David D. Jr. Grumhaus purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were purchased at an average cost of $9.60 per share, with a total value of $19,200.00. Following the completion of the purchase, the chief executive officer now directly owns 8,361 shares in the company, valued at approximately $80,265.60. This represents a 31.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

DNP Select Income Fund Stock Up 0.5 %

Shares of DNP traded up $0.05 during midday trading on Wednesday, reaching $9.65. 335,087 shares of the stock were exchanged, compared to its average volume of 652,916. DNP Select Income Fund Inc. has a 12-month low of $8.02 and a 12-month high of $10.04. The firm has a 50 day simple moving average of $9.60 and a 200-day simple moving average of $9.09.

DNP Select Income Fund Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a dividend of $0.065 per share. This represents a dividend yield of 8.15%. The ex-dividend date was Thursday, October 31st.

Institutional Investors Weigh In On DNP Select Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new stake in DNP Select Income Fund during the first quarter worth approximately $108,000. Comerica Bank grew its stake in DNP Select Income Fund by 3.7% in the 1st quarter. Comerica Bank now owns 36,781 shares of the investment management company’s stock valued at $334,000 after buying an additional 1,311 shares during the last quarter. Cetera Investment Advisers raised its holdings in DNP Select Income Fund by 571.5% in the 1st quarter. Cetera Investment Advisers now owns 1,228,662 shares of the investment management company’s stock worth $11,144,000 after acquiring an additional 1,045,691 shares during the period. Cetera Advisors LLC lifted its position in DNP Select Income Fund by 7.3% during the 1st quarter. Cetera Advisors LLC now owns 518,936 shares of the investment management company’s stock worth $4,707,000 after acquiring an additional 35,319 shares during the last quarter. Finally, RDA Financial Network boosted its holdings in DNP Select Income Fund by 32.0% during the second quarter. RDA Financial Network now owns 71,913 shares of the investment management company’s stock valued at $591,000 after acquiring an additional 17,450 shares during the period. 8.51% of the stock is owned by hedge funds and other institutional investors.

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.