Raymond James Financial Inc. Buys Shares of 877,363 DNP Select Income Fund Inc. (NYSE:DNP)

Raymond James Financial Inc. bought a new stake in DNP Select Income Fund Inc. (NYSE:DNP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 877,363 shares of the investment management company’s stock, valued at approximately $7,738,000.

Several other large investors also recently modified their holdings of DNP. Kentucky Trust Co bought a new stake in shares of DNP Select Income Fund in the fourth quarter worth about $5,598,000. Wolverine Asset Management LLC bought a new stake in shares of DNP Select Income Fund in the fourth quarter worth about $2,915,000. IHT Wealth Management LLC increased its holdings in shares of DNP Select Income Fund by 257.6% in the third quarter. IHT Wealth Management LLC now owns 425,789 shares of the investment management company’s stock worth $4,275,000 after acquiring an additional 306,712 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of DNP Select Income Fund by 23.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 766,719 shares of the investment management company’s stock worth $6,762,000 after acquiring an additional 145,449 shares in the last quarter. Finally, Barclays PLC bought a new stake in shares of DNP Select Income Fund in the third quarter worth about $1,205,000. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Stock Performance

Shares of DNP Select Income Fund stock opened at $9.62 on Friday. DNP Select Income Fund Inc. has a 1 year low of $8.02 and a 1 year high of $10.04. The business has a 50-day moving average of $9.42 and a two-hundred day moving average of $9.45.

DNP Select Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 30th will be issued a $0.065 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.78 annualized dividend and a dividend yield of 8.11%.

Insider Buying and Selling

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the 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 completion of the transaction, the director now directly owns 5,344 shares in the company, valued at approximately $50,287.04. This trade represents a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

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.