In a recent transaction, Ramona Lynn Rogers-Windsor, a director at Cohen & Steers Select Preferred & Income Fund, Inc. (NYSE:PSF), purchased shares of the company's common stock, signaling a vote of confidence in the fund's prospects. The transaction, which took place on May 6, 2024, involved the acquisition of 154 shares at a price of $19.41 per share, amounting to a total investment of approximately $3,000.
This purchase by Rogers-Windsor adds to her existing holdings in the fund, bringing her total number of shares to 910.5577 following the transaction. The direct nature of the ownership suggests a personal stake in the fund's performance, which is often viewed positively by investors.
Cohen & Steers Select Preferred & Income Fund, Inc. is a closed-end fund that primarily invests in preferred and other income securities. With a focus on high current income and capital appreciation, the fund seeks to provide value to its shareholders through a diversified portfolio and strategic investments.
The recent buy by a key insider may interest investors as an indication of the executive's belief in the fund's value and potential for growth. Transactions like these are closely watched by the market as they can provide insights into the sentiment of company insiders about their own firm's financial health and future prospects.
The stock purchase by Rogers-Windsor was publicly disclosed in accordance with SEC regulations, providing transparency into the trading activities of the fund's directors and officers. As the market processes this information, it remains to be seen how this insider activity will influence investor perception and the trading behavior around Cohen & Steers Select Preferred & Income Fund's stock.
InvestingPro Insights
As investors consider the implications of insider transactions, real-time data and insights from InvestingPro may provide a deeper understanding of Cohen & Steers Select Preferred & Income Fund, Inc. (NYSE:PSF). The fund's commitment to income generation is reflected in its significant dividend yield of 7.78%, as of April 9, 2024, which is notably attractive for income-focused investors. This aligns with the InvestingPro Tips that highlight the fund's history of maintaining dividend payments for 15 consecutive years, underscoring a stable return to shareholders.
Despite the absence of a P/E Ratio, indicating a challenge in assessing the fund's earnings-based valuation, the market capitalization of $233.56M USD suggests a moderate size that could offer a blend of stability and potential growth. Additionally, the stock's low price volatility, another InvestingPro Tip, may appeal to investors seeking a less turbulent investment experience.
In terms of performance, the fund has shown resilience with a 1-year price total return of 24.45%, and a price that is currently at 96.19% of its 52-week high. These metrics, combined with the insider buying activity, may suggest a favorable outlook among those closest to the company.
To explore further InvestingPro Tips on Cohen & Steers Select Preferred & Income Fund, visit https://www.investing.com/pro/PSF. There are additional tips available, providing investors with a comprehensive analysis of the fund's financial health and potential. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with valuable insights.
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