DNP Select Income Fund Inc. (NYSE:DNP) Short Interest Update

DNP Select Income Fund Inc. (NYSE:DNP) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 113,600 shares, an increase of 181.9% from the February 13th total of 40,300 shares. Based on an average daily volume of 753,300 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

DNP Select Income Fund Stock Up 0.7 %

Shares of NYSE DNP traded up $0.07 during midday trading on Friday, reaching $9.50. The stock had a trading volume of 533,659 shares, compared to its average volume of 673,228. The company’s 50 day moving average price is $9.37 and its 200 day moving average price is $9.45. DNP Select Income Fund has a twelve month low of $8.02 and a twelve month 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 issued a $0.065 dividend. The ex-dividend date was Friday, January 31st. This represents a yield of 8.24%.

Insider Buying and Selling

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total value of $107,189.31. Following the completion of the transaction, the director now owns 5,344 shares of the company’s stock, valued at $50,287.04. This represents a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of DNP Select Income Fund

Several large investors have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in shares of DNP Select Income Fund by 995.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,578,766 shares of the investment management company’s stock valued at $13,925,000 after buying an additional 1,434,708 shares during the period. Raymond James Financial Inc. acquired a new stake in DNP Select Income Fund in the fourth quarter valued at approximately $7,738,000. Kentucky Trust Co acquired a new stake in DNP Select Income Fund in the fourth quarter valued at approximately $5,598,000. Wolverine Asset Management LLC bought a new stake in shares of DNP Select Income Fund during the fourth quarter valued at approximately $2,915,000. Finally, IHT Wealth Management LLC raised its position in shares of DNP Select Income Fund by 257.6% during the third quarter. IHT Wealth Management LLC now owns 425,789 shares of the investment management company’s stock worth $4,275,000 after purchasing an additional 306,712 shares during the period. Institutional investors and hedge funds own 8.51% 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.