Phoenix Wealth Advisors Makes New Investment in DNP Select Income Fund Inc. (NYSE:DNP)

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Phoenix Wealth Advisors purchased a new stake in DNP Select Income Fund Inc. (NYSE:DNP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,909 shares of the investment management company’s stock, valued at approximately $71,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vivaldi Capital Management LLC raised its holdings in DNP Select Income Fund by 0.6% in the 3rd quarter. Vivaldi Capital Management LLC now owns 172,916 shares of the investment management company’s stock valued at $1,793,000 after buying an additional 1,000 shares during the period. BLB&B Advisors LLC boosted its position in shares of DNP Select Income Fund by 2.7% during the 4th quarter. BLB&B Advisors LLC now owns 37,662 shares of the investment management company’s stock worth $386,000 after purchasing an additional 1,000 shares during the period. Apriem Advisors boosted its position in shares of DNP Select Income Fund by 6.7% during the 4th quarter. Apriem Advisors now owns 15,900 shares of the investment management company’s stock worth $163,000 after purchasing an additional 1,000 shares during the period. Stratos Wealth Advisors LLC increased its holdings in DNP Select Income Fund by 5.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 19,586 shares of the investment management company’s stock valued at $197,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Buckingham Capital Management Inc. raised its position in DNP Select Income Fund by 8.7% in the third quarter. Buckingham Capital Management Inc. now owns 13,143 shares of the investment management company’s stock valued at $132,000 after purchasing an additional 1,055 shares during the period. Institutional investors and hedge funds own 5.72% of the company’s stock.

NYSE:DNP opened at $10.38 on Thursday. DNP Select Income Fund Inc. has a 52 week low of $6.76 and a 52 week high of $13.10. The stock’s fifty day moving average is $10.29 and its two-hundred day moving average is $10.32.

The company also recently announced a monthly dividend, which will be paid on Monday, April 12th. Investors of record on Wednesday, March 31st will be paid a dividend of $0.065 per share. This represents a $0.78 annualized dividend and a yield of 7.51%. The ex-dividend date of this dividend is Tuesday, March 30th.

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.

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