Sandy Spring Bank Has $44,000 Stock Position in DNP Select Income Fund Inc. (NYSE:DNP)

Sandy Spring Bank raised its position in DNP Select Income Fund Inc. (NYSE:DNP) by 141.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,951 shares of the investment management company’s stock after acquiring 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 SEC filing.

Several other large investors have also recently added to or reduced their stakes in DNP. Raymond James Financial Inc. acquired a new position in DNP Select Income Fund in the 4th quarter valued at approximately $7,738,000. Kentucky Trust Co bought a new stake in shares of DNP Select Income Fund in the 4th quarter valued at approximately $5,598,000. Wolverine Asset Management LLC bought a new stake in shares of DNP Select Income Fund in the 4th quarter valued at approximately $2,915,000. IHT Wealth Management LLC grew its stake in shares of DNP Select Income Fund by 257.6% in the 3rd quarter. IHT Wealth Management LLC now owns 425,789 shares of the investment management company’s stock valued at $4,275,000 after purchasing an additional 306,712 shares during the period. Finally, Essential Planning LLC. bought a new stake in shares of DNP Select Income Fund in the 4th quarter valued at approximately $1,440,000. Institutional investors and hedge funds own 8.51% of the company’s stock.

Insider Activity

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total transaction of $107,189.31. Following the sale, the director now directly owns 5,344 shares in the company, valued at $50,287.04. This represents a 68.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

DNP Select Income Fund Trading Down 0.1 %

DNP 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’s 50 day moving average is $9.42 and its 200-day moving average is $9.45.

DNP Select Income Fund Announces Dividend

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

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.