Connie M. Luecke, the Vice President & Chief Investment Officer of DNP Select Income Fund Inc. (NYSE:DNP), has purchased additional shares of the company, according to the latest SEC filings. On June 5, 2024, Luecke acquired 935 shares of common stock at a price of $8.5966 per share, totaling approximately $8,037.
This transaction has increased Luecke's direct holdings in the company to 19,149.567 shares. Notably, this figure includes 784.647 shares that were acquired through a dividend reinvestment plan since her last Form 4 filing, as outlined in footnote F1 of the document. The total number of shares held through the plan amounts to 5,697.56696.
The purchase reflects a continued investment by a key executive of DNP Select Income Fund, a company known for providing income through investment in a diversified portfolio of securities. The transaction demonstrates a commitment to the company's growth and a belief in its long-term prospects.
Investors often monitor insider buying as it can be a sign of executives' confidence in the company's future performance. However, it's important to note that insider transactions can be motivated by various factors and do not always directly indicate future performance.
For those interested in following the trading activities of DNP Select Income Fund's executives, the company's stock trades under the ticker symbol DNP on the New York Stock Exchange.
InvestingPro Insights
Following the recent insider purchase by Connie M. Luecke, Vice President & Chief Investment Officer of DNP Select Income Fund Inc. (NYSE:DNP), investors may gain additional insights by considering some key financial metrics and InvestingPro Tips. With a market cap of approximately $3.13 billion USD, DNP Select Income Fund stands as a significant player in its field.
The company's commitment to shareholder returns is evident through its dividend yield of 9.09%, a notable figure for income-focused investors. This is supported by the fact that DNP Select Income Fund has a strong track record of maintaining dividend payments, with a history of 38 consecutive years of distributions, which is a testament to its financial stability and management's confidence in the company's cash flow. Moreover, the company's liquid assets exceed its short-term obligations, which is a reassuring sign of financial health and operational efficiency.
On the other hand, the company's price-to-earnings (P/E) ratio stands at -16.74, suggesting that the market has concerns about its future earnings potential. Additionally, DNP has been not profitable over the last twelve months, which could be a point of consideration for potential investors looking at the company's earnings performance.
For those seeking more in-depth analysis, there are 5 additional InvestingPro Tips available, which can provide further guidance on DNP Select Income Fund's investment potential. These tips, along with real-time metrics, can be found at InvestingPro. Interested investors can also take advantage of a special offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, further enriching their investment strategy with valuable insights.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.