American Financial Advisors LLC Trims Stake in DNP Select Income Fund Inc. (NYSE:DNP)

American Financial Advisors LLC lowered its holdings in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,027,575 shares of the investment management company’s stock after selling 81,829 shares during the period. DNP Select Income Fund makes up 2.5% of American Financial Advisors LLC’s investment portfolio, making the stock its 16th largest holding. American Financial Advisors LLC owned about 0.57% of DNP Select Income Fund worth $17,194,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DNP. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in DNP Select Income Fund during the first quarter worth about $49,000. Bessemer Group Inc. bought a new stake in DNP Select Income Fund during the fourth quarter worth about $63,000. NBC Securities Inc. bought a new position in shares of DNP Select Income Fund in the third quarter worth approximately $65,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of DNP Select Income Fund during the fourth quarter valued at approximately $65,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of DNP Select Income Fund during the fourth quarter valued at approximately $82,000. Institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Price Performance

Shares of DNP traded up $0.03 on Friday, hitting $8.80. 347,227 shares of the stock traded hands, compared to its average volume of 631,699. The business has a 50 day simple moving average of $8.89 and a 200 day simple moving average of $8.93. DNP Select Income Fund Inc. has a one year low of $8.09 and a one year high of $11.18.

DNP Select Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.78 annualized dividend and a yield of 8.86%.

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.