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

Insight Select Income Fund (NYSE:INSI) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 14,500 shares, a growth of 22.9% from the December 31st total of 11,800 shares. Based on an average daily volume of 34,200 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Insight Select Income Fund

Hedge funds have recently modified their holdings of the company. Riverbridge Partners LLC raised its stake in Insight Select Income Fund by 3.5% during the fourth quarter. Riverbridge Partners LLC now owns 29,863 shares of the company’s stock worth $518,000 after purchasing an additional 1,021 shares during the period. LRI Investments LLC acquired a new stake in shares of Insight Select Income Fund during the 3rd quarter worth approximately $27,000. SeaBridge Investment Advisors LLC raised its position in shares of Insight Select Income Fund by 2.5% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 161,996 shares of the company’s stock valued at $2,807,000 after buying an additional 3,997 shares during the period. Finally, Absolute Investment Advisers LLC purchased a new stake in shares of Insight Select Income Fund during the 4th quarter valued at approximately $7,080,000. Hedge funds and other institutional investors own 49.32% of the company’s stock.

Insight Select Income Fund Stock Down 0.7 %

NYSE:INSI opened at $16.29 on Friday. Insight Select Income Fund has a one year low of $15.48 and a one year high of $18.60. The stock has a 50 day moving average price of $17.08 and a 200 day moving average price of $17.11.

Insight Select Income Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, December 18th. This represents a $0.80 annualized dividend and a dividend yield of 4.91%.

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.