Brookstone Capital Management Grows Stake in DNP Select Income Fund Inc. (NYSE:DNP)

Brookstone Capital Management raised its holdings in DNP Select Income Fund Inc. (NYSE:DNP) by 30.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 47,952 shares of the investment management company’s stock after buying an additional 11,206 shares during the quarter. Brookstone Capital Management’s holdings in DNP Select Income Fund were worth $435,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in DNP Select Income Fund by 353.1% in 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 buying an additional 800,351 shares during the period. Apollon Wealth Management LLC grew its stake in DNP Select Income Fund by 21.7% in the fourth quarter. Apollon Wealth Management LLC now owns 738,710 shares of the investment management company’s stock worth $6,264,000 after purchasing an additional 131,858 shares during the period. N.E.W. Advisory Services LLC raised its holdings in DNP Select Income Fund by 5.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 444,850 shares of the investment management company’s stock worth $3,772,000 after purchasing an additional 21,541 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in DNP Select Income Fund by 6.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 396,842 shares of the investment management company’s stock valued at $3,365,000 after buying an additional 22,533 shares during the period. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of DNP Select Income Fund by 205.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 284,936 shares of the investment management company’s stock valued at $2,582,000 after buying an additional 191,663 shares in the last quarter. 8.51% of the stock is owned by hedge funds and other institutional investors.

DNP Select Income Fund Trading Down 0.2 %

Shares of DNP Select Income Fund stock opened at $8.21 on Tuesday. DNP Select Income Fund Inc. has a 1 year low of $8.02 and a 1 year high of $10.53. The company has a 50-day moving average of $8.58 and a 200 day moving average of $8.73.

DNP Select Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a yield of 9.51%. The ex-dividend date of this dividend is Wednesday, July 31st.

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.