DNP Select Income Fund Inc. (NYSE:DNP) Short Interest Up 32.2% in March

DNP Select Income Fund Inc. (NYSE:DNP) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 150,200 shares, a growth of 32.2% from the February 28th total of 113,600 shares. Based on an average daily volume of 718,200 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

DNP Select Income Fund Stock Performance

DNP traded down $0.06 during midday trading on Monday, reaching $9.87. 697,902 shares of the company’s stock were exchanged, compared to its average volume of 673,107. DNP Select Income Fund has a 1-year low of $8.02 and a 1-year high of $10.04. The business’s 50-day moving average price is $9.48 and its 200 day moving average price is $9.45.

DNP Select Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, May 12th. Investors of record on Wednesday, April 30th will be paid a $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date is Wednesday, April 30th.

Insider Activity at DNP Select Income Fund

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the business’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 sale, the director now directly owns 5,344 shares in the company, valued at $50,287.04. The trade was a 68.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DNP Select Income Fund

A number of large investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC purchased a new stake in shares of DNP Select Income Fund in the fourth quarter valued at $2,915,000. Strategic Financial Concepts LLC acquired a new position in DNP Select Income Fund in the 4th quarter valued at about $349,000. Barclays PLC purchased a new position in DNP Select Income Fund in the 3rd quarter valued at about $1,205,000. Bard Financial Services Inc. acquired a new stake in shares of DNP Select Income Fund during the 4th quarter worth about $763,000. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of DNP Select Income Fund by 23.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 766,719 shares of the investment management company’s stock worth $6,762,000 after buying an additional 145,449 shares in the last quarter. Institutional investors and hedge funds own 8.51% of the company’s stock.

About DNP Select Income Fund

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.