Apollon Wealth Management LLC Lowers Stock Position in DNP Select Income Fund Inc. $DNP

Apollon Wealth Management LLC cut its holdings in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 19.8% during the first quarter, Holdings Channel.com reports. The firm owned 596,296 shares of the investment management company’s stock after selling 147,178 shares during the period. Apollon Wealth Management LLC’s holdings in DNP Select Income Fund were worth $6,142,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in DNP Select Income Fund by 10.9% in the fourth quarter. Royal Bank of Canada now owns 3,098,075 shares of the investment management company’s stock worth $30,950,000 after buying an additional 305,028 shares in the last quarter. LPL Financial LLC raised its position in shares of DNP Select Income Fund by 16.3% in the 4th quarter. LPL Financial LLC now owns 3,060,999 shares of the investment management company’s stock worth $30,579,000 after acquiring an additional 430,094 shares in the last quarter. Cetera Investment Advisers raised its position in shares of DNP Select Income Fund by 2.1% in the 4th quarter. Cetera Investment Advisers now owns 1,511,405 shares of the investment management company’s stock worth $15,099,000 after acquiring an additional 31,034 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of DNP Select Income Fund by 3.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,497,243 shares of the investment management company’s stock worth $14,957,000 after purchasing an additional 47,974 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of DNP Select Income Fund by 1.3% during the 4th quarter. J.W. Cole Advisors Inc. now owns 1,129,972 shares of the investment management company’s stock worth $11,288,000 after purchasing an additional 14,173 shares during the last quarter. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Stock Up 0.0%

Shares of DNP stock opened at $10.90 on Tuesday. DNP Select Income Fund Inc. has a 1-year low of $9.62 and a 1-year high of $10.93. The stock’s 50-day moving average is $10.73 and its 200 day moving average is $10.39.

DNP Select Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.065 per share. This represents a c) annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend is Wednesday, September 30th.

DNP Select Income Fund Company 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.