Insight Select Income Fund (NYSE:INSI) Trading Down 1.1% – Should You Sell?

Insight Select Income Fund (NYSE:INSI) shares were down 1.1% during mid-day trading on Friday . The company traded as low as $16.23 and last traded at $16.23. Approximately 251,522 shares changed hands during trading, an increase of 101% from the average daily volume of 125,399 shares. The stock had previously closed at $16.41.

Insight Select Income Fund Stock Performance

The business’s 50-day simple moving average is $16.70 and its 200-day simple moving average is $17.08.

Insight Select Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, December 18th were given 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 4.93%.

Institutional Investors Weigh In On Insight Select Income Fund

Several hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in shares of Insight Select Income Fund during the 3rd quarter valued at about $27,000. Wells Fargo & Company MN grew its holdings in Insight Select Income Fund by 6.7% during the fourth quarter. Wells Fargo & Company MN now owns 17,294 shares of the company’s stock worth $300,000 after acquiring an additional 1,085 shares during the period. Aviance Capital Partners LLC raised its position in Insight Select Income Fund by 12.0% during the fourth quarter. Aviance Capital Partners LLC now owns 17,644 shares of the company’s stock valued at $306,000 after acquiring an additional 1,889 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Insight Select Income Fund by 12.2% in the fourth quarter. Baird Financial Group Inc. now owns 23,000 shares of the company’s stock valued at $399,000 after acquiring an additional 2,500 shares during the period. Finally, Riverbridge Partners LLC boosted its position in 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 purchasing an additional 1,021 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.