Cohen & Steers Select Preferred and Income Fund (NYSE:PSF) Stock Passes Below 50-Day Moving Average – Time to Sell?

Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $20.11 and traded as low as $19.37. Cohen & Steers Select Preferred and Income Fund shares last traded at $19.7450, with a volume of 36,093 shares traded.

Cohen & Steers Select Preferred and Income Fund Price Performance

The firm’s 50-day moving average is $20.11 and its 200-day moving average is $20.41.

Cohen & Steers Select Preferred and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.126 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Tuesday, June 9th.

Hedge Funds Weigh In On Cohen & Steers Select Preferred and Income Fund

A number of large investors have recently modified their holdings of PSF. Gridiron Partners LLC boosted its stake in Cohen & Steers Select Preferred and Income Fund by 12,990.5% in the third quarter. Gridiron Partners LLC now owns 5,274,815 shares of the company’s stock worth $1,096,000 after buying an additional 5,234,520 shares in the last quarter. Fiera Capital Corp purchased a new position in shares of Cohen & Steers Select Preferred and Income Fund during the third quarter worth approximately $1,179,000. Glaxis Capital Management LLC bought a new stake in shares of Cohen & Steers Select Preferred and Income Fund in the 4th quarter worth approximately $913,000. Guggenheim Capital LLC boosted its stake in shares of Cohen & Steers Select Preferred and Income Fund by 18.0% in the 2nd quarter. Guggenheim Capital LLC now owns 293,623 shares of the company’s stock valued at $5,914,000 after purchasing an additional 44,708 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake 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 valued at $1,775,000 after purchasing an additional 42,484 shares in the last quarter.

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.