Cohen & Steers Select Preferred and Income Fund (NYSE:PSF) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF)’s stock price passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $18.81 and traded as low as $18.03. Cohen & Steers Select Preferred and Income Fund shares last traded at $18.08, with a volume of 64,973 shares trading hands.

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

The business’s 50-day moving average is $18.81 and its two-hundred day moving average is $19.41.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Pettinga Financial Advisors LLC boosted 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 worth $1,626,000 after buying an additional 40,612 shares during the period. Royal Bank of Canada raised its holdings 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 valued at $1,449,000 after buying an additional 15,019 shares during the period. Readystate Asset Management LP purchased a new stake in shares of Cohen & Steers Select Preferred and Income Fund during the 1st quarter valued at about $262,000. Fifth Third Bancorp purchased a new stake in shares of Cohen & Steers Select Preferred and Income Fund during the 1st quarter valued at about $247,000. Finally, Sanctuary Advisors LLC lifted its position 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 acquiring an additional 4,340 shares in the last quarter.

About Cohen & Steers Select Preferred and Income Fund

Cohen & Steers Select Preferred and Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol PSF. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

PSF invests primarily in preferred securities and other income-producing investments. Its portfolio may include securities issued by companies in a range of industries, with the fund using professional investment management to evaluate credit quality, income potential, interest-rate sensitivity and other market factors.

The fund is managed by Cohen & Steers Capital Management, an investment adviser known for its focus on income-oriented and real-asset investment strategies.