Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes $110,000 Position in DNP Select Income Fund Inc. (NYSE:DNP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, Holdings Channel reports. The firm bought 13,000 shares of the investment management company’s stock, valued at approximately $110,000.

Several other large investors have also added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of 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 worth $8,709,000 after purchasing an additional 800,351 shares during the last quarter. Sowell Financial Services LLC bought a new position in DNP Select Income Fund during the 4th quarter valued at $964,000. Wolverine Asset Management LLC purchased a new position in DNP Select Income Fund during the 4th quarter worth $1,401,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of DNP Select Income Fund in the 3rd quarter worth $108,000. Finally, Advisor Resource Council purchased a new stake in shares of DNP Select Income Fund in the fourth quarter valued at about $352,000. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

DNP opened at $8.93 on Friday. DNP Select Income Fund Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $10.70. The company’s 50-day moving average is $8.90 and its 200 day moving average is $8.86.

DNP Select Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 31st will be given a dividend of $0.065 per share. The ex-dividend date is Friday, May 31st. This represents a $0.78 annualized dividend and a dividend yield of 8.73%.

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.