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

DNP Select Income Fund Inc. (NYSE:DNP) was the target of a significant increase in short interest during the month of 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 daily volume of 557,100 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On DNP Select Income Fund

Several hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers raised 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 worth $11,144,000 after acquiring an additional 1,045,691 shares in the last quarter. Wolverine Asset Management LLC raised its stake in shares of DNP Select Income Fund by 5,329.4% during the second quarter. Wolverine Asset Management LLC now owns 231,293 shares of the investment management company’s stock worth $1,901,000 after acquiring an additional 227,033 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of DNP Select Income Fund by 43.4% during the third quarter. J.W. Cole Advisors Inc. now owns 621,270 shares of the investment management company’s stock worth $6,238,000 after acquiring an additional 187,939 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of DNP Select Income Fund by 350.1% during the third quarter. Thrivent Financial for Lutherans now owns 135,695 shares of the investment management company’s stock worth $1,363,000 after acquiring an additional 105,547 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of DNP Select Income Fund during the second quarter worth approximately $678,000. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Trading Down 0.2 %

DNP Select Income Fund stock traded down $0.02 during mid-day trading on Wednesday, hitting $9.34. 574,570 shares of the company traded hands, compared to its average volume of 659,992. DNP Select Income Fund has a one year low of $8.02 and a one year high of $10.04. The stock has a fifty day moving average price of $9.66 and a 200-day moving average price of $9.05.

DNP Select Income Fund Dividend Announcement

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

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.