DNP Select Income Fund Inc. (NYSE:DNP) Short Interest Up 26.6% in September

DNP Select Income Fund Inc. (NYSE:DNP) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 292,100 shares, a growth of 26.6% from the September 15th total of 230,700 shares. Based on an average trading volume of 434,200 shares, the short-interest ratio is presently 0.7 days.

Shares of DNP stock traded up $0.04 during trading on Friday, reaching $10.15. The company had a trading volume of 321,160 shares, compared to its average volume of 535,062. The firm’s 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $10.63. DNP Select Income Fund has a one year low of $6.76 and a one year high of $13.22.

The business also recently disclosed a monthly dividend, which will be paid on Monday, January 11th. Investors of record on Thursday, December 31st will be paid a $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date is Wednesday, December 30th.

Several hedge funds have recently modified their holdings of the stock. Prime Capital Investment Advisors LLC raised its stake in shares of DNP Select Income Fund by 8.3% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 12,000 shares of the investment management company’s stock valued at $131,000 after acquiring an additional 924 shares in the last quarter. Sound Income Strategies LLC increased its position in DNP Select Income Fund by 21.8% in the 2nd quarter. Sound Income Strategies LLC now owns 5,544 shares of the investment management company’s stock worth $60,000 after buying an additional 994 shares during the period. RDA Financial Network increased its position in DNP Select Income Fund by 8.1% in the 2nd quarter. RDA Financial Network now owns 19,023 shares of the investment management company’s stock worth $207,000 after buying an additional 1,419 shares during the period. Strategic Blueprint LLC increased its position in DNP Select Income Fund by 4.9% in the 2nd quarter. Strategic Blueprint LLC now owns 34,465 shares of the investment management company’s stock worth $375,000 after buying an additional 1,600 shares during the period. Finally, Bank of Montreal Can increased its position in DNP Select Income Fund by 27.3% in the 2nd quarter. Bank of Montreal Can now owns 7,489 shares of the investment management company’s stock worth $82,000 after buying an additional 1,606 shares during the period. 5.88% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Golden Cross

Receive News & Ratings for DNP Select Income Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DNP Select Income Fund and related companies with MarketBeat.com's FREE daily email newsletter.