Cherry Tree Wealth Management LLC Trims Stock Position in DNP Select Income Fund Inc. (NYSE:DNP)

Cherry Tree Wealth Management LLC reduced its stake in DNP Select Income Fund Inc. (NYSE:DNP) by 8.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 79,355 shares of the investment management company’s stock after selling 7,500 shares during the period. Cherry Tree Wealth Management LLC’s holdings in DNP Select Income Fund were worth $673,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its holdings in shares of DNP Select Income Fund by 2.2% in the third quarter. Commonwealth Equity Services LLC now owns 936,295 shares of the investment management company’s stock valued at $8,914,000 after purchasing an additional 20,505 shares in the last quarter. Brighton Jones LLC purchased a new stake in DNP Select Income Fund during the 3rd quarter worth about $307,000. TIAA Trust National Association acquired a new stake in DNP Select Income Fund in the 3rd quarter valued at about $122,000. Alterity Financial Group LLC grew its position in shares of DNP Select Income Fund by 7.7% during the third quarter. Alterity Financial Group LLC now owns 64,550 shares of the investment management company’s stock worth $615,000 after buying an additional 4,601 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of DNP Select Income Fund by 29.1% during the third quarter. Fifth Third Bancorp now owns 15,880 shares of the investment management company’s stock worth $151,000 after buying an additional 3,580 shares during the period. Hedge funds and other institutional investors own 8.51% of the company’s stock.

DNP Select Income Fund Trading Up 0.5 %

NYSE DNP traded up $0.04 on Wednesday, hitting $8.85. 550,473 shares of the stock were exchanged, compared to its average volume of 618,275. DNP Select Income Fund Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $10.70. The company has a 50-day moving average price of $8.89 and a 200-day moving average price of $8.86.

DNP Select Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 31st will be issued a $0.065 dividend. This represents a $0.78 annualized dividend and a yield of 8.82%. The ex-dividend date is Friday, May 31st.

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.