Raymond James Financial Inc. purchased a new stake in DNP Select Income Fund Inc. (NYSE:DNP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 877,363 shares of the investment management company's stock, valued at approximately $7,738,000. Raymond James Financial Inc. owned approximately 0.24% of DNP Select Income Fund as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in DNP. Crews Bank & Trust purchased a new position in shares of DNP Select Income Fund in the fourth quarter valued at $29,000. UMB Bank n.a. purchased a new position in shares of DNP Select Income Fund in the fourth quarter valued at $34,000. Tandem Financial LLC purchased a new position in shares of DNP Select Income Fund in the fourth quarter valued at $34,000. Golden State Wealth Management LLC purchased a new position in shares of DNP Select Income Fund in the fourth quarter valued at $35,000. Finally, Sandy Spring Bank increased its position in 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 purchasing an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 8.51% of the company's stock.
DNP Select Income Fund Trading Up 1.0 %
DNP Select Income Fund stock traded up $0.10 during midday trading on Monday, reaching $9.64. 678,694 shares of the company were exchanged, compared to its average volume of 694,826. The firm's 50-day simple moving average is $9.48 and its 200-day simple moving average is $9.39. DNP Select Income Fund Inc. has a 1 year low of $8.02 and a 1 year high of $10.04.
DNP Select Income Fund Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Monday, May 12th. Investors of record on Wednesday, April 30th will be given a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a yield of 8.09%. The ex-dividend date is Wednesday, April 30th.
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 value of $107,189.31. Following the sale, the director now directly owns 5,344 shares of the company's stock, valued at approximately $50,287.04. This trade represents a 68.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.
About DNP Select Income Fund
(
Free Report)
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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