Short Interest in Insight Select Income Fund (NYSE:INSI) Grows By 337.5%

Insight Select Income Fund (NYSE:INSI) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 7,000 shares, an increase of 337.5% from the September 15th total of 1,600 shares. Based on an average trading volume of 11,200 shares, the short-interest ratio is presently 0.6 days.

Insight Select Income Fund Stock Performance

Shares of Insight Select Income Fund stock traded up $0.40 during midday trading on Friday, hitting $17.74. The company’s stock had a trading volume of 130,290 shares, compared to its average volume of 16,594. Insight Select Income Fund has a 1-year low of $14.28 and a 1-year high of $18.60. The stock has a 50-day simple moving average of $17.10 and a 200-day simple moving average of $16.52.

Insight Select Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Thursday, October 10th.

Institutional Investors Weigh In On Insight Select Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new stake in Insight Select Income Fund during the second quarter valued at approximately $156,000. Atlantic Union Bankshares Corp boosted its stake in shares of Insight Select Income Fund by 13.0% in the 1st quarter. Atlantic Union Bankshares Corp now owns 26,632 shares of the company’s stock valued at $439,000 after purchasing an additional 3,065 shares in the last quarter. Shaker Financial Services LLC acquired a new stake in shares of Insight Select Income Fund during the 2nd quarter worth about $935,000. SeaBridge Investment Advisors LLC boosted its position in Insight Select Income Fund by 5.1% in the first quarter. SeaBridge Investment Advisors LLC now owns 148,853 shares of the company’s stock valued at $2,455,000 after buying an additional 7,159 shares in the last quarter. Finally, Karpus Management Inc. grew its stake in Insight Select Income Fund by 104.8% during the first quarter. Karpus Management Inc. now owns 1,089,157 shares of the company’s stock worth $17,960,000 after buying an additional 557,304 shares during the last quarter. 49.32% of the stock is owned by institutional investors and hedge funds.

About Insight Select Income Fund

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.