Raymond James Financial Inc. Makes New Investment in DNP Select Income Fund Inc. (NYSE:DNP)

Raymond James Financial Inc. acquired a new position in DNP Select Income Fund Inc. (NYSE:DNP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Safe Harbor Fiduciary LLC acquired a new position in DNP Select Income Fund in the third quarter worth $28,000. Crews Bank & Trust acquired a new position in shares of DNP Select Income Fund during the fourth quarter valued at $29,000. UMB Bank n.a. acquired a new position in shares of DNP Select Income Fund during the fourth quarter valued at $34,000. Tandem Financial LLC acquired a new position in shares of DNP Select Income Fund during the fourth quarter valued at $34,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of DNP Select Income Fund during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 8.51% of the company’s stock.

Insider Activity

In other DNP Select Income Fund 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 value 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 represents a 68.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

DNP Select Income Fund Stock Down 0.1 %

Shares of DNP opened at $9.62 on Friday. DNP Select Income Fund Inc. has a 12-month low of $8.02 and a 12-month high of $10.04. The stock’s fifty day simple moving average is $9.42 and its 200-day simple moving average is $9.45.

DNP Select Income Fund Dividend Announcement

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

DNP Select Income Fund Company 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.