Insight Select Income Fund (NYSE:INSI) Short Interest Up 22.9% in January

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

Insight Select Income Fund Price Performance

Shares of NYSE:INSI opened at $16.40 on Friday. Insight Select Income Fund has a 52-week low of $15.48 and a 52-week high of $18.60. The stock’s 50-day simple moving average is $17.11 and its two-hundred day simple moving average is $17.11.

Insight Select Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a yield of 4.88%.

Institutional Inflows and Outflows

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