DNP Select Income Fund Inc. (NYSE:DNP) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 301,200 shares, a growth of 28.3% from the November 15th total of 234,800 shares. Based on an average daily volume of 447,300 shares, the days-to-cover ratio is currently 0.7 days.
NYSE DNP traded down $0.06 during trading on Friday, reaching $10.82. 349,523 shares of the company’s stock were exchanged, compared to its average volume of 604,279. DNP Select Income Fund has a fifty-two week low of $9.75 and a fifty-two week high of $10.98. The company’s fifty day simple moving average is $10.80 and its 200-day simple moving average is $10.71.
The firm also recently declared a monthly dividend, which will be paid on Monday, January 10th. Stockholders of record on Friday, December 31st will be given a $0.065 dividend. The ex-dividend date of this dividend is Thursday, December 30th. This represents a $0.78 annualized dividend and a dividend yield of 7.21%.
In related news, Director David J. Vitale purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 1st. The shares were purchased at an average price of $10.57 per share, with a total value of $52,850.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.05% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its position in shares of DNP Select Income Fund by 24.7% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 5,051 shares of the investment management company’s stock worth $54,000 after purchasing an additional 1,000 shares during the period. WealthShield Partners LLC lifted its position in shares of DNP Select Income Fund by 90.0% in the 2nd quarter. WealthShield Partners LLC now owns 7,600 shares of the investment management company’s stock worth $79,000 after purchasing an additional 3,600 shares during the period. Isthmus Partners LLC purchased a new stake in DNP Select Income Fund during the second quarter valued at approximately $91,000. RFG Advisory LLC purchased a new stake in DNP Select Income Fund during the third quarter valued at approximately $108,000. Finally, Wealthcare Advisory Partners LLC lifted its position in DNP Select Income Fund by 234.4% during the second quarter. Wealthcare Advisory Partners LLC now owns 10,407 shares of the investment management company’s stock valued at $109,000 after acquiring an additional 7,295 shares during the last quarter. 6.72% of the stock is owned by hedge funds and other institutional investors.
DNP Select Income Fund Company Profile
DNP Select Income Fund, Inc is a closed-end investment fund. Its investment objectives are current income, long-term growth of income and capital appreciation by investing primarily in a portfolio of equity and fixed income securities of companies in the public utilities industry. DNP Select Income Fund was founded on January 21, 1986 and is headquartered in Chicago, IL.
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