Cohen & Steers Select Preferred and Income Fund (NYSE:PSF) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF)’s stock price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $19.71 and traded as low as $19.40. Cohen & Steers Select Preferred and Income Fund shares last traded at $19.42, with a volume of 23,992 shares changing hands.

Cohen & Steers Select Preferred and Income Fund Trading Down 0.1%

The stock’s fifty day moving average is $19.71 and its two-hundred day moving average is $19.78.

Cohen & Steers Select Preferred and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.126 per share. The ex-dividend date is Tuesday, September 8th. This represents a c) annualized dividend and a dividend yield of 7.8%.

Institutional Investors Weigh In On Cohen & Steers Select Preferred and Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of PSF. Sanctuary Advisors LLC increased its position in Cohen & Steers Select Preferred and Income Fund by 94.3% during the fourth quarter. Sanctuary Advisors LLC now owns 87,543 shares of the company’s stock worth $1,775,000 after buying an additional 42,484 shares during the last quarter. Pettinga Financial Advisors LLC lifted its position in shares of Cohen & Steers Select Preferred and Income Fund by 101.2% in the second quarter. Pettinga Financial Advisors LLC now owns 80,759 shares of the company’s stock valued at $1,626,000 after buying an additional 40,612 shares during the last quarter. 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. Fiera Capital Corp boosted its stake in shares of Cohen & Steers Select Preferred and Income Fund by 84.5% during the 4th quarter. Fiera Capital Corp now owns 104,721 shares of the company’s stock worth $2,124,000 after acquiring an additional 47,975 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Cohen & Steers Select Preferred and Income Fund by 159.0% during the 3rd quarter. US Bancorp DE now owns 8,000 shares of the company’s stock worth $166,000 after acquiring an additional 4,911 shares during the period.

Cohen & Steers Select Preferred and Income Fund Company Profile

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.