Wolverine Asset Management LLC Invests $2.92 Million in DNP Select Income Fund Inc. (NYSE:DNP)

Wolverine Asset Management LLC acquired a new position in DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 330,516 shares of the investment management company’s stock, valued at approximately $2,915,000. Wolverine Asset Management LLC owned approximately 0.09% of DNP Select Income Fund as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DNP. Creative Planning raised its position in DNP Select Income Fund by 93.8% during the third quarter. Creative Planning now owns 148,984 shares of the investment management company’s stock worth $1,496,000 after acquiring an additional 72,100 shares in the last quarter. Raymond James & Associates raised its position in DNP Select Income Fund by 4.9% during the third quarter. Raymond James & Associates now owns 565,350 shares of the investment management company’s stock worth $5,676,000 after acquiring an additional 26,351 shares in the last quarter. PFG Investments LLC raised its position in shares of DNP Select Income Fund by 12.8% in the third quarter. PFG Investments LLC now owns 52,485 shares of the investment management company’s stock valued at $527,000 after purchasing an additional 5,951 shares during the period. J.W. Cole Advisors Inc. raised its position in shares of DNP Select Income Fund by 43.4% in the third quarter. J.W. Cole Advisors Inc. now owns 621,270 shares of the investment management company’s stock valued at $6,238,000 after purchasing an additional 187,939 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of DNP Select Income Fund by 4.1% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,292,204 shares of the investment management company’s stock valued at $12,974,000 after purchasing an additional 50,425 shares during the period. 8.51% of the stock is owned by institutional investors.

DNP Select Income Fund Price Performance

Shares of DNP opened at $9.46 on Friday. The company’s 50-day moving average is $9.23 and its 200-day moving average is $9.41. DNP Select Income Fund Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $10.04.

DNP Select Income Fund Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a $0.065 dividend. This represents a dividend yield of 8.24%. The ex-dividend date of this dividend was Friday, January 31st.

Insider Activity

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.41, for a total value of $107,189.31. Following the transaction, the director now directly owns 5,344 shares in the company, valued at approximately $50,287.04. This represents a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

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.