Keystone Financial Group Buys Shares of 84,240 DNP Select Income Fund Inc. (NYSE:DNP)

Keystone Financial Group acquired a new stake in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,240 shares of the investment management company's stock, valued at approximately $743,000.

Several other hedge funds also recently added to or reduced their stakes in the business. LPL Financial LLC boosted its position in DNP Select Income Fund by 2.0% in the 4th quarter. LPL Financial LLC now owns 2,202,234 shares of the investment management company's stock valued at $19,424,000 after buying an additional 42,768 shares during the period. Wells Fargo & Company MN raised its holdings in shares of DNP Select Income Fund by 995.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,578,766 shares of the investment management company's stock valued at $13,925,000 after purchasing an additional 1,434,708 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of DNP Select Income Fund by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,159,114 shares of the investment management company's stock worth $10,223,000 after purchasing an additional 60,825 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in DNP Select Income Fund in the fourth quarter valued at $7,738,000. Finally, Apollon Wealth Management LLC lifted its holdings in DNP Select Income Fund by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 864,905 shares of the investment management company's stock worth $7,628,000 after buying an additional 11,890 shares during the last quarter. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DNP Select Income Fund news, Director Geraldine M. Mcnamara sold 11,391 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total transaction of $107,189.31. Following the transaction, the director now owns 5,344 shares of the company's stock, valued at approximately $50,287.04. This trade represents a 68.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

DNP Select Income Fund Trading Up 1.3 %

Shares of NYSE:DNP traded up $0.13 on Friday, hitting $9.46. 540,326 shares of the company's stock were exchanged, compared to its average volume of 693,318. DNP Select Income Fund Inc. has a 1-year low of $8.02 and a 1-year high of $10.04. The firm's 50-day moving average is $9.47 and its 200 day moving average is $9.40.

DNP Select Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, May 12th. Investors of record on Wednesday, April 30th will be given a $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.25%. The ex-dividend date of this dividend is Wednesday, April 30th.

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.