Mascoma Wealth Management LLC boosted its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 1.6% during the first quarter, HoldingsChannel reports. The firm owned 93,531 shares of the investment management company’s stock after acquiring an additional 1,500 shares during the period. DNP Select Income Fund makes up about 0.7% of Mascoma Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Mascoma Wealth Management LLC’s holdings in DNP Select Income Fund were worth $1,078,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Investors Research Corp acquired a new stake in shares of DNP Select Income Fund in the first quarter worth $59,000. CWM LLC raised its stake in DNP Select Income Fund by 6.9% during the 1st quarter. CWM LLC now owns 63,091 shares of the investment management company’s stock valued at $727,000 after purchasing an additional 4,067 shares during the last quarter. BLB&B Advisors LLC raised its stake in DNP Select Income Fund by 47.6% during the 1st quarter. BLB&B Advisors LLC now owns 28,882 shares of the investment management company’s stock valued at $333,000 after purchasing an additional 9,309 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in DNP Select Income Fund during the 1st quarter valued at $215,000. Finally, Wedbush Securities Inc. raised its stake in DNP Select Income Fund by 75.5% during the 1st quarter. Wedbush Securities Inc. now owns 27,684 shares of the investment management company’s stock valued at $319,000 after purchasing an additional 11,909 shares during the last quarter. 4.09% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:DNP traded up $0.01 during trading hours on Tuesday, hitting $11.56. 93,021 shares of the company traded hands, compared to its average volume of 383,291. DNP Select Income Fund Inc. has a twelve month low of $10.00 and a twelve month high of $11.72.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th will be issued a $0.065 dividend. This represents a $0.78 annualized dividend and a yield of 6.75%. The ex-dividend date is Thursday, June 27th.
In other DNP Select Income Fund news, insider International Group I. American purchased 660 shares of the stock in a transaction on Tuesday, January 29th. The shares were purchased at an average price of $100,000.00 per share, with a total value of $66,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.08% of the company’s stock.
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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.
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