Royal Bank of Canada Purchases 196,531 Shares of DNP Select Income Fund Inc. (NYSE:DNP)

Royal Bank of Canada grew its stake in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,122,866 shares of the investment management company's stock after purchasing an additional 196,531 shares during the quarter. Royal Bank of Canada owned about 0.57% of DNP Select Income Fund worth $18,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DNP. Crews Bank & Trust acquired a new stake in DNP Select Income Fund during the 4th quarter valued at $29,000. UMB Bank n.a. acquired a new position in shares of DNP Select Income Fund in the fourth quarter valued at $34,000. Tandem Financial LLC bought a new position in shares of DNP Select Income Fund in the fourth quarter valued at about $34,000. Golden State Wealth Management LLC acquired a new stake in shares of DNP Select Income Fund during the 4th quarter worth about $35,000. Finally, Sandy Spring Bank boosted its holdings in shares of DNP Select Income Fund by 141.4% during the 4th quarter. Sandy Spring Bank now owns 4,951 shares of the investment management company's stock worth $44,000 after buying an additional 2,900 shares during the period. 8.51% of the stock is owned by institutional investors.

DNP Select Income Fund Trading Up 0.3%

Shares of DNP stock traded up $0.03 on Friday, hitting $9.76. The company's stock had a trading volume of 208,522 shares, compared to its average volume of 673,745. DNP Select Income Fund Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $10.04. The stock's 50 day moving average is $9.56 and its 200-day moving average is $9.42.

DNP Select Income Fund Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 8%.

DNP Select Income Fund Profile

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.