Kovack Advisors Inc. Boosts Holdings in DNP Select Income Fund Inc. (NYSE:DNP)

Kovack Advisors Inc. grew its holdings in DNP Select Income Fund Inc. (NYSE:DNP) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 50,329 shares of the investment management company’s stock after purchasing an additional 1,184 shares during the quarter. Kovack Advisors Inc.’s holdings in DNP Select Income Fund were worth $444,000 as of its most recent SEC filing.

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

DNP Select Income Fund Trading Up 1.2 %

Shares of DNP Select Income Fund stock opened at $9.57 on Friday. DNP Select Income Fund Inc. has a 52-week low of $8.02 and a 52-week high of $10.04. The company has a 50 day moving average of $9.27 and a 200 day moving average of $9.42.

DNP Select Income Fund Announces Dividend

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

Insider Buying and Selling

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the business’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 transaction of $107,189.31. Following the completion of the sale, the director now owns 5,344 shares in the company, valued at approximately $50,287.04. The trade was a 68.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by insiders.

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.