DNP Select Income Fund Inc. (NYSE:DNP) Short Interest Up 252.8% in April

DNP Select Income Fund Inc. (NYSE:DNPGet Rating) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 134,400 shares, a growth of 252.8% from the April 15th total of 38,100 shares. Based on an average daily volume of 652,100 shares, the days-to-cover ratio is currently 0.2 days.

Shares of DNP stock traded up $0.23 during trading hours on Friday, hitting $11.27. The company had a trading volume of 423,734 shares, compared to its average volume of 773,802. DNP Select Income Fund has a fifty-two week low of $10.21 and a fifty-two week high of $12.00. The company’s fifty day moving average is $11.61 and its 200 day moving average is $11.18.

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 11th. Stockholders of record on Thursday, June 30th will be paid a $0.065 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 6.92%.

Several hedge funds have recently bought and sold shares of the stock. Cetera Advisor Networks LLC grew its stake in shares of DNP Select Income Fund by 14.4% in the third quarter. Cetera Advisor Networks LLC now owns 115,675 shares of the investment management company’s stock worth $1,233,000 after acquiring an additional 14,524 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of DNP Select Income Fund by 4.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 566,388 shares of the investment management company’s stock worth $6,156,000 after acquiring an additional 23,175 shares during the period. Janney Montgomery Scott LLC increased its position in shares of DNP Select Income Fund by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 338,859 shares of the investment management company’s stock worth $3,683,000 after acquiring an additional 16,903 shares during the period. Cetera Advisors LLC increased its position in shares of DNP Select Income Fund by 20.6% during the third quarter. Cetera Advisors LLC now owns 63,811 shares of the investment management company’s stock worth $680,000 after acquiring an additional 10,906 shares during the period. Finally, Sigma Planning Corp increased its position in shares of DNP Select Income Fund by 15.5% during the fourth quarter. Sigma Planning Corp now owns 34,908 shares of the investment management company’s stock worth $379,000 after acquiring an additional 4,692 shares during the period. Hedge funds and other institutional investors own 6.70% of the company’s stock.

About DNP Select Income Fund (Get Rating)

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.

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