Short Interest in DNP Select Income Fund Inc. (DNP) Declines By 44.3%

DNP Select Income Fund Inc. (NYSE:DNP) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 387,295 shares, a drop of 44.3% from the January 31st total of 695,448 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 297,188 shares, the short-interest ratio is currently 1.3 days.

Shares of DNP Select Income Fund stock opened at $11.50 on Thursday. DNP Select Income Fund has a 12-month low of $10.00 and a 12-month high of $11.62.

The business also recently announced a monthly dividend, which was paid on Monday, February 11th. Investors of record on Thursday, January 31st were given a $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date was Wednesday, January 30th.



In related news, insider International Group I. American acquired 660 shares of the stock in a transaction dated Tuesday, January 29th. The shares were acquired at an average price of $100,000.00 per share, for a total transaction of $66,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David J. Vitale bought 7,000 shares of DNP Select Income Fund stock in a transaction that occurred on Wednesday, January 2nd. The stock was purchased at an average cost of $10.44 per share, with a total value of $73,080.00. The disclosure for this purchase can be found here. Company insiders own 0.08% of the company’s stock.

Several large investors have recently modified their holdings of the company. Morgan Stanley lifted its position in shares of DNP Select Income Fund by 8.9% in the third quarter. Morgan Stanley now owns 1,402,896 shares of the investment management company’s stock worth $15,530,000 after purchasing an additional 114,445 shares in the last quarter. Commonwealth Equity Services LLC raised its position in DNP Select Income Fund by 0.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 615,510 shares of the investment management company’s stock valued at $6,401,000 after purchasing an additional 4,054 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of DNP Select Income Fund by 17.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 565,421 shares of the investment management company’s stock worth $5,880,000 after acquiring an additional 82,627 shares during the period. Global Financial Private Capital LLC lifted its position in DNP Select Income Fund by 2.4% in the 4th quarter. Global Financial Private Capital LLC now owns 518,435 shares of the investment management company’s stock valued at $5,410,000 after acquiring an additional 12,184 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in DNP Select Income Fund by 14.6% in the fourth quarter. LPL Financial LLC now owns 395,395 shares of the investment management company’s stock worth $4,112,000 after purchasing an additional 50,435 shares during the last quarter. 4.20% of the stock is currently owned by institutional investors and hedge funds.

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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.

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