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

Shares of Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $19.55 and traded as low as $18.80. Cohen & Steers Select Preferred and Income Fund shares last traded at $18.83, with a volume of 27,272 shares changing hands.

Cohen & Steers Select Preferred and Income Fund Price Performance

The firm’s 50-day moving average is $19.55 and its two-hundred day moving average is $19.69.

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. Stockholders of record on Tuesday, September 8th will be issued a $0.126 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PSF. Integrated Wealth Concepts LLC grew its stake in shares of Cohen & Steers Select Preferred and Income Fund by 5.4% during the third quarter. Integrated Wealth Concepts LLC now owns 10,543 shares of the company’s stock valued at $219,000 after buying an additional 543 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in shares of 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 acquiring an additional 600 shares during the last quarter. Truist Financial Corp boosted its holdings in Cohen & Steers Select Preferred and Income Fund by 2.1% during the 4th quarter. Truist Financial Corp now owns 33,142 shares of the company’s stock valued at $672,000 after acquiring an additional 686 shares during the period. Osaic Holdings Inc. boosted its holdings in Cohen & Steers Select Preferred and Income Fund by 2.5% during the 2nd quarter. Osaic Holdings Inc. now owns 44,494 shares of the company’s stock valued at $896,000 after acquiring an additional 1,094 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Cohen & Steers Select Preferred and Income Fund in the 2nd quarter valued at $27,000.

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.