Mark Kahrer Acquires 20,000 Shares of DNP Select Income Fund (NYSE:DNP) Stock

DNP Select Income Fund Inc. (NYSE:DNP) Director Mark Kahrer bought 20,000 shares of the stock in a transaction dated Wednesday, February 11th. The shares were bought at an average cost of $10.21 per share, with a total value of $204,200.00. Following the completion of the purchase, the director directly owned 23,000 shares of the company’s stock, valued at approximately $234,830. This trade represents a 666.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

DNP Select Income Fund Trading Up 0.3%

DNP stock traded up $0.04 during trading on Thursday, hitting $10.29. The company had a trading volume of 793,886 shares, compared to its average volume of 658,592. DNP Select Income Fund Inc. has a 52-week low of $8.69 and a 52-week high of $10.35. The company has a 50 day simple moving average of $10.04 and a 200-day simple moving average of $10.00.

DNP Select Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 7.6%.

Institutional Investors Weigh In On DNP Select Income Fund

Several hedge funds have recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of DNP Select Income Fund during the second quarter valued at $27,000. Ameriflex Group Inc. grew its holdings in DNP Select Income Fund by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 3,000 shares of the investment management company’s stock worth $30,000 after acquiring an additional 1,500 shares in the last quarter. Parallel Advisors LLC bought a new position in DNP Select Income Fund during the 4th quarter worth about $32,000. Spire Wealth Management increased its position in DNP Select Income Fund by 84.9% during the 4th quarter. Spire Wealth Management now owns 3,400 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 1,561 shares during the period. Finally, Smithfield Trust Co bought a new stake in shares of DNP Select Income Fund in the 4th quarter valued at about $33,000. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

DNP Select Income Fund Company Profile

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund’s primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.