Short Interest in Insight Select Income Fund (NYSE:INSI) Grows By 232.0%

Insight Select Income Fund (NYSE:INSI) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 8,300 shares, an increase of 232.0% from the February 29th total of 2,500 shares. Based on an average daily volume of 21,800 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Insight Select Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in Insight Select Income Fund by 18.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 610,726 shares of the company’s stock valued at $9,753,000 after purchasing an additional 93,844 shares during the period. Karpus Management Inc. raised its holdings in Insight Select Income Fund by 7.4% in the fourth quarter. Karpus Management Inc. now owns 531,853 shares of the company’s stock valued at $8,494,000 after acquiring an additional 36,835 shares in the last quarter. SeaBridge Investment Advisors LLC increased its stake in Insight Select Income Fund by 0.9% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 141,694 shares of the company’s stock valued at $2,263,000 after purchasing an additional 1,323 shares during the last quarter. Invesco Ltd. increased its stake in Insight Select Income Fund by 2.6% during the first quarter. Invesco Ltd. now owns 131,435 shares of the company’s stock valued at $2,349,000 after purchasing an additional 3,305 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. increased its stake in Insight Select Income Fund by 209.5% during the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 108,766 shares of the company’s stock valued at $1,701,000 after purchasing an additional 73,624 shares during the last quarter. Institutional investors and hedge funds own 49.32% of the company’s stock.

Insight Select Income Fund Stock Down 0.2 %

Shares of INSI stock traded down $0.03 during mid-day trading on Thursday, hitting $16.55. The stock had a trading volume of 4,977 shares, compared to its average volume of 21,635. Insight Select Income Fund has a fifty-two week low of $14.28 and a fifty-two week high of $16.76. The company’s 50-day simple moving average is $15.92 and its 200-day simple moving average is $15.49.

Insight Select Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Tuesday, April 2nd.

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.