Select Water Solutions Inc. (NYSE:WTTR) soared to a fresh all-time high on Wednesday after its profits nearly doubled in the second quarter of the year, signaling strong demand for its services. Water infrastructure revenues stood at $101.6 million, or 26 percent higher than the $80.8 million in the comparable period. “The second quarter was a very strong quarter for Select across all three operating segments, with both our Water Infrastructure and Chemical Technologies segments producing record revenue and gross profit in the quarter,” Select Water Solutions Inc. (NYSE:WTTR) President and CEO John Schmitz said. In a separate announcement, Select Water Solutions Inc. (NYSE:WTTR) said that its board of directors approved the distribution of $0.07 in dividends for every Class A common share held by its shareholders on record as of Friday, August 7. Data from Insider Monkey showed that 36 hedge funds held positions in Select Water Solutions Inc. (NYSE:WTTR) as of the first quarter of the year, up from 25 in the quarter prior.