Monetary Management Group Inc. Sells 8,000 Shares of DNP Select Income Fund Inc. (NYSE:DNP)

Monetary Management Group Inc. trimmed its holdings in shares of DNP Select Income Fund Inc. (NYSE:DNP) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,200 shares of the investment management company’s stock after selling 8,000 shares during the quarter. Monetary Management Group Inc.’s holdings in DNP Select Income Fund were worth $505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its stake in shares of DNP Select Income Fund by 9.4% in the third quarter. Stifel Financial Corp now owns 64,144 shares of the investment management company’s stock valued at $644,000 after buying an additional 5,524 shares during the period. Barclays PLC bought a new stake in DNP Select Income Fund in the third quarter valued at approximately $1,205,000. Wealthquest Corp acquired a new stake in DNP Select Income Fund during the 3rd quarter valued at approximately $180,000. Sanctuary Advisors LLC increased its position in DNP Select Income Fund by 4.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 65,892 shares of the investment management company’s stock valued at $623,000 after purchasing an additional 2,907 shares during the period. Finally, Bard Financial Services Inc. bought a new position in DNP Select Income Fund during the 4th quarter worth approximately $763,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.

DNP Select Income Fund Stock Down 1.7 %

NYSE:DNP opened at $9.24 on Friday. DNP Select Income Fund Inc. has a 52 week low of $8.02 and a 52 week high of $10.04. The firm’s fifty day moving average is $9.47 and its 200-day moving average is $9.42.

DNP Select Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, May 12th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.78 dividend on an annualized basis and a yield of 8.45%.

Insider Buying and Selling at DNP Select Income Fund

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of the business’s 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 directly owns 5,344 shares of the company’s stock, valued at $50,287.04. The trade was a 68.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.