World Equity Group Inc. Increases Stock Position in DNP Select Income Fund Inc. (NYSE:DNP)

World Equity Group Inc. grew its holdings in DNP Select Income Fund Inc. (NYSE:DNP) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,232 shares of the investment management company’s stock after purchasing an additional 7,296 shares during the quarter. World Equity Group Inc.’s holdings in DNP Select Income Fund were worth $514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Safe Harbor Fiduciary LLC purchased a new position in shares of DNP Select Income Fund in the third quarter valued at approximately $28,000. Crews Bank & Trust purchased a new position in shares of DNP Select Income Fund in the fourth quarter valued at approximately $29,000. UMB Bank n.a. purchased a new position in shares of DNP Select Income Fund in the fourth quarter valued at approximately $34,000. Tandem Financial LLC purchased a new position in shares of DNP Select Income Fund in the fourth quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC acquired a new stake in DNP Select Income Fund in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Stock Up 0.1 %

Shares of NYSE:DNP opened at $9.46 on Monday. The firm’s 50 day moving average price is $9.23 and its 200 day moving average price is $9.41. DNP Select Income Fund Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $10.04.

DNP Select Income Fund Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued a $0.065 dividend. The ex-dividend date was Friday, January 31st. This represents a yield of 8.24%.

Insider Activity at DNP Select Income Fund

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.41, for a total value of $107,189.31. Following the sale, the director now owns 5,344 shares of the company’s stock, valued at $50,287.04. This trade represents a 68.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

DNP Select Income Fund 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.