Insight Select Income Fund (NYSE:INSI) Sees Significant Growth in Short Interest

Insight Select Income Fund (NYSE:INSI) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 14,000 shares, an increase of 29.6% from the October 15th total of 10,800 shares. Based on an average trading volume of 25,200 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Insight Select Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Karpus Management Inc. boosted its position in shares of 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 in the last quarter. SeaBridge Investment Advisors LLC raised its holdings in shares of Insight Select Income Fund by 3.2% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 153,576 shares of the company’s stock worth $2,506,000 after buying an additional 4,723 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Insight Select Income Fund during the 2nd quarter worth approximately $156,000. Finally, Shaker Financial Services LLC acquired a new stake in Insight Select Income Fund in the 2nd quarter valued at $935,000. Institutional investors own 49.32% of the company’s stock.

Insight Select Income Fund Stock Performance

Shares of NYSE:INSI opened at $17.30 on Friday. The business has a 50 day moving average price of $17.39 and a 200 day moving average price of $16.73. Insight Select Income Fund has a twelve month low of $14.89 and a twelve month high of $18.60.

Insight Select Income Fund Dividend Announcement

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

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.