DNP Select Income Fund Inc. (NYSE:DNP) Short Interest Up 28.2% in May

DNP Select Income Fund Inc. (NYSE:DNP) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 86,300 shares, a growth of 28.2% from the May 15th total of 67,300 shares. Based on an average daily volume of 652,700 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On DNP Select Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Hartline Investment Corp acquired a new position in shares of DNP Select Income Fund during the 1st quarter valued at about $10,604,000. Cetera Investment Advisers grew its holdings in DNP Select Income Fund by 571.5% in the first quarter. Cetera Investment Advisers now owns 1,228,662 shares of the investment management company’s stock valued at $11,144,000 after purchasing an additional 1,045,691 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in DNP Select Income Fund by 353.1% during 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. Foundations Investment Advisors LLC raised its stake in DNP Select Income Fund by 205.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 284,936 shares of the investment management company’s stock worth $2,582,000 after purchasing an additional 191,663 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in shares of DNP Select Income Fund in the 4th quarter valued at $1,401,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Performance

Shares of NYSE:DNP traded down $0.11 during trading on Friday, reaching $8.15. The stock had a trading volume of 1,964,629 shares, compared to its average volume of 725,432. DNP Select Income Fund has a fifty-two week low of $8.02 and a fifty-two week high of $10.53. The business has a fifty day moving average price of $8.73 and a 200-day moving average price of $8.77.

DNP Select Income Fund Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.065 per share. This represents a dividend yield of 8.6%. The ex-dividend date of this dividend is Friday, June 28th.

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.