Cohen & Steers Select Preferred and Income Fund (NYSE:PSF) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $19.66 and traded as low as $19.58. Cohen & Steers Select Preferred and Income Fund shares last traded at $19.6660, with a volume of 51,437 shares changing hands.

Cohen & Steers Select Preferred and Income Fund Trading Down 0.2%

The firm has a fifty day simple moving average of $19.67 and a 200-day simple moving average of $20.07.

Cohen & Steers Select Preferred and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.126 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a c) annualized dividend and a dividend yield of 7.7%.

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

Several hedge funds have recently made changes to their positions in PSF. Readystate Asset Management LP acquired a new stake in Cohen & Steers Select Preferred and Income Fund during the 1st quarter worth $262,000. Royal Bank of Canada boosted its stake in 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 purchasing an additional 15,019 shares during the period. Sanctuary Advisors LLC boosted its stake in Cohen & Steers Select Preferred and Income Fund by 5.0% during the 1st quarter. Sanctuary Advisors LLC now owns 91,883 shares of the company’s stock worth $1,782,000 after purchasing an additional 4,340 shares during the period. Fifth Third Bancorp acquired a new stake in Cohen & Steers Select Preferred and Income Fund during the 1st quarter worth $247,000. Finally, Kestra Advisory Services LLC boosted its stake in Cohen & Steers Select Preferred and Income Fund by 1.6% during the 1st quarter. Kestra Advisory Services LLC now owns 38,261 shares of the company’s stock worth $742,000 after purchasing an additional 600 shares during the period.

About Cohen & Steers Select Preferred and Income Fund

Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) is a closed-end management investment company that seeks to provide shareholders with a high level of current income and the potential for capital appreciation. The fund trades on the New York Stock Exchange and offers investors exposure to a diversified portfolio of preferred and other hybrid securities, combining the liquidity of an exchange-traded vehicle with a specialized income strategy.

The fund’s primary business activity is investing in preferred stocks, bank capital instruments, trust preferreds and other hybrid capital structures issued by U.S.