Insight Select Income Fund (NYSE:INSI) Short Interest Up 54.3% in October

Insight Select Income Fund (NYSE:INSI) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 10,800 shares, a growth of 54.3% from the September 30th total of 7,000 shares. Based on an average daily trading volume, of 22,100 shares, the days-to-cover ratio is presently 0.5 days.

Insight Select Income Fund Price Performance

Shares of NYSE INSI traded down $0.11 during midday trading on Friday, hitting $17.30. 42,279 shares of the company’s stock were exchanged, compared to its average volume of 17,949. The firm’s fifty day simple moving average is $17.32 and its 200-day simple moving average is $16.62. Insight Select Income Fund has a twelve month low of $14.32 and a twelve month high of $18.60.

Insight Select Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.80 annualized dividend and a yield of 4.62%.

Institutional Trading of Insight Select Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in INSI. Wolverine Asset Management LLC acquired a new stake in Insight Select Income Fund during the 2nd quarter worth $156,000. Shaker Financial Services LLC purchased a new stake in shares of Insight Select Income Fund in the second quarter valued at about $935,000. SeaBridge Investment Advisors LLC raised its stake in Insight Select Income Fund by 3.2% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 153,576 shares of the company’s stock valued at $2,506,000 after acquiring an additional 4,723 shares during the last quarter. Finally, Karpus Management Inc. raised its stake in Insight Select Income Fund by 104.8% during the 1st quarter. Karpus Management Inc. now owns 1,089,157 shares of the company’s stock valued at $17,960,000 after acquiring an additional 557,304 shares during the last quarter. Institutional investors and hedge funds own 49.32% of the company’s stock.

Insight Select Income Fund Company Profile

Insight Select Income Fund is a closed ended fixed income mutual fund launched and managed by Cutwater Asset Management Corp. The fund invests in the fixed income markets of the United States. It primarily invests in short-term and long-term debt securities. The fund invests in the securities rated within the highest four grades by Moody's or Standard & Poor's, obligations of the U.S.