Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) Sees Significant Growth in Short Interest

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) was the recipient of a significant increase in short interest in October. As of October 30th, there was short interest totaling 51,484 shares, an increase of 257.8% from the October 15th total of 14,391 shares. Based on an average daily volume of 125,908 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 9.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,123 shares of the investment management company’s stock worth $327,000 after purchasing an additional 1,395 shares during the last quarter. Next Level Wealth Planning LLC purchased a new position in Cohen & Steers REIT and Preferred Income Fund in the third quarter valued at about $36,000. Integrated Wealth Concepts LLC bought a new position in Cohen & Steers REIT and Preferred Income Fund in the second quarter worth about $44,000. Harbour Investments Inc. raised its holdings in Cohen & Steers REIT and Preferred Income Fund by 1.7% in the third quarter. Harbour Investments Inc. now owns 149,479 shares of the investment management company’s stock worth $2,788,000 after purchasing an additional 2,444 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the second quarter valued at about $77,000.

Cohen & Steers REIT and Preferred Income Fund Trading Down 0.0%

Shares of RNP stock traded down $0.01 during trading hours on Friday, hitting $18.95. The stock had a trading volume of 80,932 shares, compared to its average volume of 122,952. Cohen & Steers REIT and Preferred Income Fund has a one year low of $18.01 and a one year high of $21.86. The stock’s 50-day moving average price is $18.94 and its two-hundred day moving average price is $20.23.

About Cohen & Steers REIT and Preferred Income Fund

Cohen & Steers REIT and Preferred Income Fund, Inc. is a closed-end investment fund listed on the New York Stock Exchange under the symbol RNP. The fund is managed by Cohen & Steers, a specialized investment manager focused on real assets and income-oriented securities. RNP seeks to provide a high level of current income, with capital appreciation as a secondary objective. Its portfolio generally combines publicly traded real estate investment trusts (REITs) and other real estate securities with preferred securities issued by companies in a range of industries.