Cohen & Steers Select Preferred and Income Fund (NYSE:PSF) Shares Cross Below Fifty Day Moving Average – What’s Next?

Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF)’s stock price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $19.77 and traded as low as $19.50. Cohen & Steers Select Preferred and Income Fund shares last traded at $19.5550, with a volume of 39,076 shares changing hands.

Cohen & Steers Select Preferred and Income Fund Stock Down 0.4%

The company’s 50 day moving average price is $19.77 and its 200-day moving average price is $19.95.

Cohen & Steers Select Preferred and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.126 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Tuesday, September 8th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its holdings in shares of Cohen & Steers Select Preferred and Income Fund by 94.3% in the 4th quarter. Sanctuary Advisors LLC now owns 87,543 shares of the company’s stock worth $1,775,000 after acquiring an additional 42,484 shares during the last quarter. Glaxis Capital Management LLC purchased a new stake in shares of Cohen & Steers Select Preferred and Income Fund during the fourth quarter valued at $913,000. Fiera Capital Corp lifted its holdings in shares of Cohen & Steers Select Preferred and Income Fund by 84.5% during 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 during the last quarter. Shaker Financial Services LLC boosted its position in shares of Cohen & Steers Select Preferred and Income Fund by 1.7% in the 4th quarter. Shaker Financial Services LLC now owns 72,187 shares of the company’s stock valued at $1,464,000 after purchasing an additional 1,174 shares during the period. Finally, Noble Wealth Management PBC increased its stake in Cohen & Steers Select Preferred and Income Fund by 16.4% in the 2nd quarter. Noble Wealth Management PBC now owns 20,055 shares of the company’s stock worth $404,000 after purchasing an additional 2,825 shares in the last quarter.

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.