Sandy Spring Bank Purchases 2,900 Shares of DNP Select Income Fund Inc. (NYSE:DNP)

Sandy Spring Bank raised its position in DNP Select Income Fund Inc. (NYSE:DNP) by 141.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,951 shares of the investment management company’s stock after buying an additional 2,900 shares during the period. Sandy Spring Bank’s holdings in DNP Select Income Fund were worth $44,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of DNP. Safe Harbor Fiduciary LLC acquired a new position in shares of DNP Select Income Fund in the 3rd quarter valued at $28,000. Crews Bank & Trust acquired a new stake in DNP Select Income Fund during the 4th quarter worth $29,000. UMB Bank n.a. acquired a new stake in DNP Select Income Fund during the 4th quarter worth $34,000. Tandem Financial LLC acquired a new stake in DNP Select Income Fund during the 4th quarter worth $34,000. Finally, Golden State Wealth Management LLC acquired a new stake in DNP Select Income Fund during the 4th quarter worth $35,000. 8.51% of the stock is currently owned by institutional investors.

DNP Select Income Fund Stock Down 0.1 %

Shares of DNP Select Income Fund stock 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 announced a monthly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a yield of 8.11%. The ex-dividend date is Monday, June 30th.

Insiders Place Their Bets

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 transaction of $107,189.31. Following the completion of the transaction, the director now owns 5,344 shares in the company, valued at approximately $50,287.04. This represents a 68.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.