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

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

Insight Select Income Fund Stock Performance

INSI opened at $17.30 on Friday. Insight Select Income Fund has a 1-year low of $14.89 and a 1-year high of $18.60. The firm has a 50-day moving average price of $17.39 and a two-hundred day moving average price of $16.73.

Insight Select Income Fund Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new position in Insight Select Income Fund in the second quarter valued at approximately $156,000. Shaker Financial Services LLC bought a new stake in shares of Insight Select Income Fund during the 2nd quarter valued at $935,000. SeaBridge Investment Advisors LLC lifted its stake 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 valued at $2,506,000 after purchasing an additional 4,723 shares during the period. Finally, Karpus Management Inc. lifted its stake in shares of Insight Select Income Fund by 104.8% in the 1st quarter. Karpus Management Inc. now owns 1,089,157 shares of the company’s stock valued at $17,960,000 after purchasing an additional 557,304 shares during the period. Institutional investors and hedge funds own 49.32% of the company’s stock.

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.