Bank of America Corp DE Buys 66,548 Shares of DNP Select Income Fund Inc. (NYSE:DNP)

Bank of America Corp DE increased its holdings in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 934,015 shares of the investment management company’s stock after acquiring an additional 66,548 shares during the period. Bank of America Corp DE owned about 0.25% of DNP Select Income Fund worth $8,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DNP. Crews Bank & Trust bought a new stake in DNP Select Income Fund during the 4th quarter worth about $29,000. Tandem Financial LLC acquired a new position in DNP Select Income Fund in the 4th quarter worth $34,000. UMB Bank n.a. bought a new stake in DNP Select Income Fund in the 4th quarter valued at approximately $34,000. Golden State Wealth Management LLC bought a new position in DNP Select Income Fund in the fourth quarter valued at $35,000. Finally, Sandy Spring Bank boosted its position in DNP Select Income Fund by 141.4% during the fourth 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 during the last quarter. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Performance

Shares of DNP opened at $9.75 on Monday. DNP Select Income Fund Inc. has a 1-year low of $8.02 and a 1-year high of $10.04. The company’s fifty day simple moving average is $9.55 and its 200 day simple moving average is $9.41.

DNP Select Income Fund Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, June 2nd will be issued a dividend of $0.065 per share. This represents a dividend yield of 8%. The ex-dividend date of this dividend is Friday, May 30th.

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.