GWN Securities Inc. Makes New Investment in DNP Select Income Fund Inc. (NYSE:DNP)

GWN Securities Inc. bought a new position in shares of DNP Select Income Fund Inc. (NYSE:DNP) in the fourth quarter, Holdings Channel reports. The fund bought 49,982 shares of the investment management company’s stock, valued at approximately $463,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DNP. EverSource Wealth Advisors LLC raised its stake in DNP Select Income Fund by 10.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 11,995 shares of the investment management company’s stock valued at $106,000 after purchasing an additional 1,110 shares in the last quarter. Kovack Advisors Inc. raised its stake in DNP Select Income Fund by 2.4% in the fourth quarter. Kovack Advisors Inc. now owns 50,329 shares of the investment management company’s stock valued at $444,000 after purchasing an additional 1,184 shares in the last quarter. Tortoise Investment Management LLC raised its stake in DNP Select Income Fund by 2.0% in the fourth quarter. Tortoise Investment Management LLC now owns 61,439 shares of the investment management company’s stock valued at $542,000 after purchasing an additional 1,220 shares in the last quarter. GPS Wealth Strategies Group LLC raised its stake in DNP Select Income Fund by 11.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 12,000 shares of the investment management company’s stock valued at $106,000 after purchasing an additional 1,225 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in DNP Select Income Fund by 11.2% in the third quarter. OneDigital Investment Advisors LLC now owns 12,508 shares of the investment management company’s stock valued at $126,000 after purchasing an additional 1,263 shares in the last quarter. Institutional investors and hedge funds own 8.51% of the company’s stock.

DNP Select Income Fund Stock Up 0.7 %

DNP stock opened at $9.50 on Monday. The business has a 50-day simple moving average of $9.38 and a 200 day simple moving average of $9.45. DNP Select Income Fund Inc. has a 52 week low of $8.02 and a 52 week high of $10.04.

DNP Select Income Fund Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.065 per share. This represents a yield of 8.24%. The ex-dividend date of this dividend was Friday, January 31st.

Insiders Place Their Bets

In other DNP Select Income Fund news, Director Geraldine M. Mcnamara sold 11,391 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total transaction of $107,189.31. Following the completion of the transaction, the director now owns 5,344 shares of the company’s stock, valued at approximately $50,287.04. The trade was a 68.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

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.