Truist Financial Corp Has $1.67 Million Stock Position in DNP Select Income Fund Inc. $DNP

Truist Financial Corp grew its position in DNP Select Income Fund Inc. (NYSE:DNP) by 73.5% in the third quarter, Holdings Channel.com reports. The fund owned 166,837 shares of the investment management company’s stock after buying an additional 70,698 shares during the period. Truist Financial Corp’s holdings in DNP Select Income Fund were worth $1,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in shares of DNP Select Income Fund during the second quarter worth $27,000. City Holding Co. bought a new position in DNP Select Income Fund in the third quarter valued at about $37,000. Walled Lake Planning & Wealth Management LLC bought a new position in DNP Select Income Fund in the second quarter valued at about $103,000. First National Advisers LLC increased its position in DNP Select Income Fund by 11.3% in the third quarter. First National Advisers LLC now owns 11,196 shares of the investment management company’s stock worth $112,000 after purchasing an additional 1,137 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in DNP Select Income Fund during the 2nd quarter worth about $115,000. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Stock Up 0.1%

Shares of NYSE DNP opened at $10.16 on Friday. DNP Select Income Fund Inc. has a 1 year low of $8.69 and a 1 year high of $10.35. The firm’s 50-day moving average is $10.03 and its 200-day moving average is $10.00.

DNP Select Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Tuesday, March 31st.

DNP Select Income Fund Profile

DNP Select Income Fund is a closed‐end management investment company listed on the New York Stock Exchange under the symbol DNP. The fund’s primary objective is to provide high current income and, as a secondary objective, capital appreciation by investing in income‐producing securities.

To pursue its objectives, DNP Select Income Fund allocates the majority of its assets to equity and equity‐related securities of energy infrastructure companies, with a particular focus on master limited partnerships (MLPs) in the midstream sector.