Cohen & Steers Select Preferred and Income Fund (NYSE:PSF) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $19.76 and traded as low as $19.44. Cohen & Steers Select Preferred and Income Fund shares last traded at $19.49, with a volume of 30,363 shares trading hands.

Cohen & Steers Select Preferred and Income Fund Stock Performance

The company’s 50-day moving average price is $19.75 and its two-hundred day moving average price is $19.84.

Cohen & Steers Select Preferred and Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Pettinga Financial Advisors LLC boosted its position in shares of Cohen & Steers Select Preferred and Income Fund by 101.2% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 80,759 shares of the company’s stock valued at $1,626,000 after purchasing an additional 40,612 shares in the last quarter. Noble Wealth Management PBC lifted its stake in Cohen & Steers Select Preferred and Income Fund by 16.4% in the second quarter. Noble Wealth Management PBC now owns 20,055 shares of the company’s stock valued at $404,000 after buying an additional 2,825 shares during the period. Readystate Asset Management LP bought a new position in shares of Cohen & Steers Select Preferred and Income Fund during the 1st quarter worth approximately $262,000. Royal Bank of Canada boosted 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 worth $1,449,000 after buying an additional 15,019 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of 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 buying an additional 4,340 shares during the period.

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.