DNP Select Income Fund Inc. (NYSE:DNP) Sees Significant Increase in Short Interest

DNP Select Income Fund Inc. (NYSE:DNP) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 253,600 shares, an increase of 170.1% from the August 15th total of 93,900 shares. Based on an average trading volume of 757,500 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DNP. Foguth Wealth Management LLC. acquired a new position in DNP Select Income Fund during the 1st quarter worth about $1,005,000. Cetera Investment Advisers grew its stake in shares of DNP Select Income Fund by 571.5% during the first quarter. Cetera Investment Advisers now owns 1,228,662 shares of the investment management company’s stock valued at $11,144,000 after purchasing an additional 1,045,691 shares during the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of DNP Select Income Fund by 205.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 284,936 shares of the investment management company’s stock valued at $2,582,000 after purchasing an additional 191,663 shares in the last quarter. Novak & Powell Financial Services Inc. bought a new position in DNP Select Income Fund in the 4th quarter worth approximately $433,000. Finally, Charles Schwab Trust Co acquired a new position in DNP Select Income Fund during the 1st quarter worth $227,000. 8.51% of the stock is owned by institutional investors and hedge funds.

DNP Select Income Fund Trading Up 0.7 %

DNP stock traded up $0.07 during trading on Friday, hitting $9.73. 415,131 shares of the stock traded hands, compared to its average volume of 689,191. DNP Select Income Fund has a one year low of $8.02 and a one year high of $10.09. The company has a 50 day simple moving average of $9.05 and a 200 day simple moving average of $8.83.

DNP Select Income Fund Announces Dividend

The company also recently announced a dividend, which was paid on Monday, August 12th. Stockholders of record on Thursday, August 1st were paid a $0.065 dividend. This represents a dividend yield of 8.7%. The ex-dividend date of this dividend was Wednesday, July 31st.

About DNP Select Income Fund

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.