Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) Sees Significant Growth in Short Interest

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 4,738 shares, an increase of 111.3% from the June 15th total of 2,242 shares. Based on an average daily volume of 122,257 shares, the days-to-cover ratio is presently 0.0 days.

Cohen & Steers REIT and Preferred Income Fund Price Performance

Shares of RNP traded up $0.12 during mid-day trading on Friday, hitting $20.83. The company’s stock had a trading volume of 57,563 shares, compared to its average volume of 125,636. The company’s 50-day moving average is $20.63 and its 200-day moving average is $20.62. Cohen & Steers REIT and Preferred Income Fund has a 52-week low of $19.27 and a 52-week high of $22.78.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.136 per share. The ex-dividend date is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 7.8%.

Institutional Trading of Cohen & Steers REIT and Preferred Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of RNP. Future Financial Wealth Managment LLC lifted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 387.9% during the 4th quarter. Future Financial Wealth Managment LLC now owns 57,328 shares of the investment management company’s stock worth $1,153,000 after purchasing an additional 45,578 shares during the last quarter. Wolverine Asset Management LLC bought a new position in Cohen & Steers REIT and Preferred Income Fund in the fourth quarter worth about $2,527,000. XML Financial LLC lifted its position in shares of Cohen & Steers REIT and Preferred Income Fund by 34.5% during the first quarter. XML Financial LLC now owns 561,075 shares of the investment management company’s stock valued at $11,087,000 after buying an additional 144,035 shares during the last quarter. Shaker Financial Services LLC bought a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter valued at about $802,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Cohen & Steers REIT and Preferred Income Fund by 809.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 137,222 shares of the investment management company’s stock worth $2,725,000 after buying an additional 122,129 shares during the last quarter.

Cohen & Steers REIT and Preferred Income Fund Company Profile

Cohen & Steers® REIT and Preferred Income Fund, Inc (NYSE: RNP) is a closed-end management investment company that seeks to provide current income and, to a lesser extent, capital appreciation. The Fund pursues its objectives by investing primarily in equity real estate investment trusts (REITs) and preferred securities issued by U.S. and non-U.S. real estate companies. It employs a research-driven, bottom-up selection process to identify securities that offer attractive income yields while seeking to manage downside risk through diversification across sectors and geographies.

In its equity portfolio, the Fund typically holds shares of publicly traded REITs spanning property types such as industrial, office, retail, residential and specialty real estate.