DNP Select Income Fund Inc. (NYSE:DNP) Short Interest Up 170.1% in August

DNP Select Income Fund Inc. (NYSE:DNP) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 253,600 shares, an increase of 170.1% from the August 15th total of 93,900 shares. Based on an average daily trading volume, of 757,500 shares, the short-interest ratio is currently 0.3 days.

DNP Select Income Fund Stock Down 0.7 %

NYSE DNP opened at $9.67 on Friday. The company has a 50 day moving average of $9.02 and a 200-day moving average of $8.83. DNP Select Income Fund has a 1-year low of $8.02 and a 1-year high of $10.09.

DNP Select Income Fund Announces Dividend

The business also recently declared a dividend, which was paid on Monday, August 12th. Investors of record on Thursday, August 1st were issued a $0.065 dividend. This represents a dividend yield of 8.7%. The ex-dividend date of this dividend was Wednesday, July 31st.

Institutional Trading of DNP Select Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Foguth Wealth Management LLC. acquired a new stake in shares of DNP Select Income Fund in the first quarter valued at approximately $1,005,000. Cetera Investment Advisers increased its holdings in shares of 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 in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of DNP Select Income Fund by 205.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 284,936 shares of the investment management company’s stock valued at $2,582,000 after purchasing an additional 191,663 shares in the last quarter. Novak & Powell Financial Services Inc. acquired a new stake in DNP Select Income Fund during the 4th quarter worth $433,000. Finally, Charles Schwab Trust Co acquired a new stake in DNP Select Income Fund during the 1st quarter worth $227,000. Institutional investors and hedge funds own 8.51% of the company’s stock.

About DNP Select Income Fund

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.