Short Interest in Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF) Drops By 75.3%

Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE:PSF) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 2,400 shares, a decline of 75.3% from the December 15th total of 9,700 shares. Based on an average daily volume of 25,100 shares, the days-to-cover ratio is currently 0.1 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSF. Wolverine Asset Management LLC acquired a new position in Cohen & Steers Select Preferred and Income Fund during the 3rd quarter worth $99,000. Newbridge Financial Services Group Inc. boosted its position in shares of Cohen & Steers Select Preferred and Income Fund by 89.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 5,563 shares of the company’s stock worth $171,000 after acquiring an additional 2,619 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Cohen & Steers Select Preferred and Income Fund during the 2nd quarter worth about $215,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Cohen & Steers Select Preferred and Income Fund during the 3rd quarter worth about $237,000. Finally, MML Investors Services LLC boosted its position in shares of Cohen & Steers Select Preferred and Income Fund by 14.6% during the 2nd quarter. MML Investors Services LLC now owns 10,547 shares of the company’s stock worth $323,000 after acquiring an additional 1,347 shares in the last quarter.

PSF traded down $0.25 on Friday, hitting $25.64. 1,285 shares of the company were exchanged, compared to its average volume of 63,388. Cohen & Steers Select Preferred and Income Fund has a twelve month low of $25.76 and a twelve month high of $32.50. The firm has a 50-day moving average price of $27.59 and a two-hundred day moving average price of $29.29.

The business also recently announced a monthly dividend, which will be paid on Thursday, March 31st. Investors of record on Wednesday, March 16th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, March 15th. This represents a $1.62 annualized dividend and a yield of 6.32%.

Cohen & Steers Select Preferred and Income Fund Company Profile

Cohen & Steers Select Preferred and Income Fund, Inc is a closed ended fixed income mutual fund launched by Cohen & Steers Inc It is managed by Cohen & Steers Capital Management, Inc The fund invests in the fixed income markets across the globe. It also invests some portion of its portfolio in other open-end funds, closed-end funds, or exchange traded funds that invest primarily in preferred and/or debt securities.

Further Reading: Dividend Achievers

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