Insight Select Income Fund (NYSE:INSI) Shares Down 1.1% – Here’s Why

Insight Select Income Fund (NYSE:INSI) fell 1.1% during mid-day trading on Friday . The stock traded as low as $16.23 and last traded at $16.23. 251,522 shares changed hands during trading, an increase of 101% from the average session volume of 125,399 shares. The stock had previously closed at $16.41.

Insight Select Income Fund Price Performance

The stock has a fifty day moving average price of $16.70 and a 200-day moving average price of $17.08.

Insight Select Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 18th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.80 annualized dividend and a yield of 4.93%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. LRI Investments LLC acquired a new position in Insight Select Income Fund during the 3rd quarter valued at about $27,000. Wells Fargo & Company MN grew its stake in shares of Insight Select Income Fund by 6.7% during the fourth quarter. Wells Fargo & Company MN now owns 17,294 shares of the company’s stock worth $300,000 after acquiring an additional 1,085 shares during the last quarter. Aviance Capital Partners LLC increased its holdings in shares of Insight Select Income Fund by 12.0% during the fourth quarter. Aviance Capital Partners LLC now owns 17,644 shares of the company’s stock valued at $306,000 after acquiring an additional 1,889 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Insight Select Income Fund by 12.2% in the 4th quarter. Baird Financial Group Inc. now owns 23,000 shares of the company’s stock valued at $399,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Riverbridge Partners LLC boosted its stake in Insight Select Income Fund by 3.5% in the 4th quarter. Riverbridge Partners LLC now owns 29,863 shares of the company’s stock worth $518,000 after purchasing an additional 1,021 shares in the last quarter. Institutional investors 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.