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

Insight Select Income Fund (NYSE:INSI) was the recipient of a large decrease in short interest in April. As of April 30th, there was short interest totalling 11,700 shares, a decrease of 6.4% from the April 15th total of 12,500 shares. Based on an average daily trading volume, of 22,100 shares, the days-to-cover ratio is currently 0.5 days.

Insight Select Income Fund Stock Up 0.1 %

NYSE:INSI opened at $16.09 on Friday. The firm’s 50-day simple moving average is $16.16 and its 200 day simple moving average is $15.82. Insight Select Income Fund has a 52 week low of $14.28 and a 52 week high of $16.76.

Insight Select Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date was Tuesday, April 2nd.

Hedge Funds Weigh In On Insight Select Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in INSI. Wolverine Asset Management LLC boosted its holdings in shares of Insight Select Income Fund by 4,349.0% in the third quarter. Wolverine Asset Management LLC now owns 4,449 shares of the company’s stock worth $67,000 after acquiring an additional 4,349 shares during the period. Aviance Capital Partners LLC purchased a new position in Insight Select Income Fund in the 3rd quarter worth approximately $336,000. Atlantic Union Bankshares Corp raised its position in shares of Insight Select Income Fund by 13.0% during the 1st quarter. Atlantic Union Bankshares Corp now owns 26,632 shares of the company’s stock valued at $439,000 after buying an additional 3,065 shares in the last quarter. Riverbridge Partners LLC bought a new stake in shares of Insight Select Income Fund during the 1st quarter worth $447,000. Finally, AQR Arbitrage LLC grew its position in Insight Select Income Fund by 10.8% in the third quarter. AQR Arbitrage LLC now owns 40,450 shares of the company’s stock worth $608,000 after acquiring an additional 3,932 shares in the last quarter. 49.32% of the stock is owned by hedge funds and other institutional investors.

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.