Wells Fargo & Company MN Buys 1,434,708 Shares of DNP Select Income Fund Inc. (NYSE:DNP)

Wells Fargo & Company MN increased its position in shares of DNP Select Income Fund Inc. (NYSE:DNP - Free Report) by 995.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,578,766 shares of the investment management company's stock after purchasing an additional 1,434,708 shares during the quarter. Wells Fargo & Company MN owned 0.43% of DNP Select Income Fund worth $13,925,000 at the end of the most recent reporting period.

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

DNP Select Income Fund Trading Up 1.3 %

Shares of DNP traded up $0.13 during midday trading on Friday, hitting $9.46. The company's stock had a trading volume of 540,326 shares, compared to its average volume of 694,708. DNP Select Income Fund Inc. has a one year low of $8.02 and a one year high of $10.04. The company's fifty day simple moving average is $9.47 and its two-hundred day simple moving average is $9.40.

DNP Select Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, May 12th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.065 per share. This represents a $0.78 annualized dividend and a yield of 8.25%. The ex-dividend date is Wednesday, April 30th.

Insiders Place Their Bets

In other DNP Select Income Fund news, Director Geraldine M. Mcnamara sold 11,391 shares of the company'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 completion of the transaction, the director now owns 5,344 shares of the company's stock, valued at $50,287.04. This represents a 68.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company's stock.

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.