Cutter & CO Brokerage Inc. Trims Stock Position in DNP Select Income Fund Inc. (NYSE:DNP)

Cutter & CO Brokerage Inc. decreased its stake in DNP Select Income Fund Inc. (NYSE:DNP) by 13.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,900 shares of the investment management company’s stock after selling 4,000 shares during the period. Cutter & CO Brokerage Inc.’s holdings in DNP Select Income Fund were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DNP. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in DNP Select Income Fund by 353.1% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,027,018 shares of the investment management company’s stock valued at $8,709,000 after acquiring an additional 800,351 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in DNP Select Income Fund by 2.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 936,295 shares of the investment management company’s stock worth $8,914,000 after buying an additional 20,505 shares during the last quarter. UBS Group AG increased its position in DNP Select Income Fund by 4.9% during the third quarter. UBS Group AG now owns 652,492 shares of the investment management company’s stock worth $6,212,000 after buying an additional 30,278 shares during the period. Janney Montgomery Scott LLC lifted its stake in DNP Select Income Fund by 2.4% in the third quarter. Janney Montgomery Scott LLC now owns 442,767 shares of the investment management company’s stock valued at $4,215,000 after buying an additional 10,588 shares during the last quarter. Finally, N.E.W. Advisory Services LLC boosted its holdings in shares of DNP Select Income Fund by 1,893.4% in the third quarter. N.E.W. Advisory Services LLC now owns 423,309 shares of the investment management company’s stock valued at $4,030,000 after acquiring an additional 402,073 shares during the period. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Stock Performance

Shares of DNP traded down $0.03 during mid-day trading on Wednesday, reaching $8.80. 377,337 shares of the company’s stock were exchanged, compared to its average volume of 625,947. The business’s fifty day simple moving average is $8.90 and its 200-day simple moving average is $8.92. DNP Select Income Fund Inc. has a 52-week low of $8.09 and a 52-week high of $11.18.

DNP Select Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.86%.

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.