Short-term stake in DNP Select Income Fund Inc. (NYSE: DNP) increases 156.9%
DNP Select Income Fund Inc. (NYSE: DNP) benefited from strong short-term interest growth in January. As of January 31, there were short interests totaling 279,300 shares, a growth of 156.9% from the total of 108,700 shares as of January 15. Based on an average daily trading volume of 500,800 shares, the day-to-cover ratio is currently 0.6 days.
A number of institutional investors have recently changed their stock portfolios. Sequoia Financial Advisors LLC bought a new position in DNP Select Income Fund in Q4, valued at around $109,000. Advisor Resource Council bought a new position in DNP Select Income Fund in Q4 worth approximately $521,000. Equitable Holdings Inc. increased its stake in DNP Select Income Fund by 25.2% in the 4th quarter. Equitable Holdings Inc. now owns 34,747 shares of the investment management company valued at $378,000 after buying an additional 6,995 shares last quarter. Private Advisor Group LLC increased its stake in DNP Select Income Fund by 6.4% in the 4th quarter. Private Advisor Group LLC now owns 109,552 shares of the investment management firm valued at $1,191,000 after buying an additional 6,550 shares last quarter. Finally, Financial Counselors Inc. acquired a new stake in DNP Select Income Fund in Q4, valued at approximately $252,000. 6.26% of the shares are currently held by hedge funds and other institutional investors.
Shares of the DNP Select Income Fund opened at $11.07 on Friday. The DNP Select Income Fund has a 12-month minimum of $9.75 and a 12-month maximum of $11.22. The company’s 50-day moving average price is $10.95 and its 200-day moving average price is $10.83.
The company also recently declared a monthly dividend, which will be paid on Monday, April 11. Investors of record on Thursday, March 31 will receive a dividend of $0.065. This represents a dividend of $0.78 on an annualized basis and a yield of 7.05%. The ex-dividend date is Wednesday, March 30.
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 income growth and capital appreciation by investing primarily in a portfolio of equity and fixed income securities of companies in the utilities sector. DNP Select Income Fund was founded on January 21, 1986 and is headquartered in Chicago, Illinois.
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