Cohen & Steers Select Preferred and Income Fund (NYSE:PSF) Share Price Breaks Below 50 Day Moving Average – Here’s Why

Shares of Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $19.12 and traded as low as $17.95. Cohen & Steers Select Preferred and Income Fund shares last traded at $18.13, with a volume of 29,662 shares.

Cohen & Steers Select Preferred and Income Fund Stock Up 0.9%

The company’s fifty day moving average price is $19.10 and its two-hundred day moving average price is $19.51.

Cohen & Steers Select Preferred and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 8th will be given a $0.1260 dividend. This represents a $1.51 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Tuesday, December 8th.

Hedge Funds Weigh In On Cohen & Steers Select Preferred and Income Fund

Large investors have recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its holdings in shares of Cohen & Steers Select Preferred and Income Fund by 84.5% in the fourth quarter. Fiera Capital Corp now owns 104,721 shares of the company’s stock valued at $2,124,000 after purchasing an additional 47,975 shares in the last quarter. Sanctuary Advisors LLC raised its position in Cohen & Steers Select Preferred and Income Fund by 5.0% in the 1st quarter. Sanctuary Advisors LLC now owns 91,883 shares of the company’s stock valued at $1,782,000 after buying an additional 4,340 shares during the last quarter. Pettinga Financial Advisors LLC lifted its stake in Cohen & Steers Select Preferred and Income Fund by 101.2% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 80,759 shares of the company’s stock valued at $1,626,000 after acquiring an additional 40,612 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Cohen & Steers Select Preferred and Income Fund by 25.1% during the 1st quarter. Royal Bank of Canada now owns 74,755 shares of the company’s stock worth $1,449,000 after acquiring an additional 15,019 shares in the last quarter. Finally, Glaxis Capital Management LLC acquired a new stake in shares of Cohen & Steers Select Preferred and Income Fund in the fourth quarter valued at approximately $913,000.

About Cohen & Steers Select Preferred and Income Fund

Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) is a closed-end investment fund managed by Cohen & Steers Capital Management, Inc The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in preferred securities and other income-producing investments. Its portfolio may include securities issued by companies in a range of industries and geographic markets, providing exposure to income-oriented assets across the United States and international markets.

Cohen & Steers, which specializes in real assets and income-oriented investments, oversees the fund’s portfolio management and investment strategy.