Short Interest in DNP Select Income Fund Inc. (NYSE:DNP) Rises By 345.7%

DNP Select Income Fund Inc. (NYSE:DNP) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 123,900 shares, an increase of 345.7% from the October 15th total of 27,800 shares. Based on an average trading volume of 557,100 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On DNP Select Income Fund

A number of hedge funds have recently made changes to their positions in DNP. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in DNP Select Income Fund by 4.1% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,292,204 shares of the investment management company’s stock valued at $12,974,000 after acquiring an additional 50,425 shares in the last quarter. Cetera Investment Advisers lifted its holdings in DNP Select Income Fund by 571.5% in the first quarter. Cetera Investment Advisers now owns 1,228,662 shares of the investment management company’s stock worth $11,144,000 after purchasing an additional 1,045,691 shares during the period. Commonwealth Equity Services LLC grew its position in DNP Select Income Fund by 7.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 1,036,658 shares of the investment management company’s stock valued at $8,521,000 after buying an additional 74,012 shares in the last quarter. Apollon Wealth Management LLC increased its stake in DNP Select Income Fund by 2.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 853,015 shares of the investment management company’s stock valued at $8,564,000 after buying an additional 23,781 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in DNP Select Income Fund by 43.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 621,270 shares of the investment management company’s stock valued at $6,238,000 after buying an additional 187,939 shares during the period. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Stock Performance

DNP stock traded down $0.02 during midday trading on Wednesday, reaching $9.34. The company had a trading volume of 574,570 shares, compared to its average volume of 659,992. DNP Select Income Fund has a fifty-two week low of $8.02 and a fifty-two week high of $10.04. The stock has a 50 day moving average price of $9.66 and a 200 day moving average price of $9.05.

DNP Select Income Fund Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a $0.065 dividend. This represents a yield of 8.15%. The ex-dividend date was Thursday, October 31st.

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.