Cohen & Steers Select Preferred and Income Fund, Inc.
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- Cohen & Steers Select Preferred and Income Fund, Inc. Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE: PSF) is a closed-end fixed income fund managed by Cohen & Steers Capital Management, Inc., that seeks high current income as its primary objective with capital appreciation secondary; it normally invests at least 80% of managed assets in preferred and other income securities issued by U.S. and non-U.S. companies, including traditional preferred securities, hybrid-preferred securities, floating-rate preferred securities, corporate debt securities, convertible securities with maturities of ten years or longer, and portions in other open-end, closed-end, or exchange-traded funds focused on preferred or debt securities. The Fund, launched in 2010 and based in New York, employs leverage up to 33.33% of managed assets through borrowings and fundamental analysis emphasizing issuers' creditworthiness, market factors, corporate structures, and securities placement within those structures; it benchmarks against the BofA Merrill Lynch Fixed Rate Preferred Index and operates globally across fixed income markets with portfolio managers Elaine Zaharis-Nikas and Jerry Dorost. Recent strategic changes include a July 2023 Board-approved distribution policy shift to maintain level monthly distributions, replacing the prior 2016 managed plan, with potential components of net investment income, capital gains, or return of capital; ongoing leverage cost management through variable rate financing and interest rate swaps locking rates through 2028 to support dividend stability amid rate volatility; and sustained monthly dividend declarations at $0.126 per share into 2025, alongside proxy statements in 2024 and 2023 addressing governance and performance.
Company News
Cohen & Steers Select Preferred and Income Fund (NYSE:PSF) Share Price Passes Above 50 Day Moving Average – Here’s Why
PSF: ~8% Yield On Bank Preferreds
Why PSF Is Mispriced: Institutional Capital, Not A Yield Fund
PSF: Attractively Valued, But Weak Dividend Coverage
Firm Capital Property Trust Reports Q1/2025 Results
PSF: Much Improved, But No Inflation Protection
PSF: Continues To Underperform Peers And Another Failure To Cover The Distribution
FLC: Preferred Stocks Are Doing Well, But Don't Ignore The Risks
PSF: Take Some Profits While The Valuation Is Richer Than Normal (Rating Downgrade)
PSF: Historic Underperformance And Declining NAV Are Concerns
CEF Weekly Review: Inverted Yield Curve Is Not Doing Leveraged CEFs Any Favors
Preferred Closed-End Funds: Out Of The Frying Pan Into The Fire
PSF: Reasonable Option For Income, But Distribution Sustainability A Question
PSF: A Solid Income Fund At An Attractive Price
5 Best CEFs To Buy This Month (February 2022)
Closed-End Funds: A Check-Up On The Preferred Space
PSF: Great Income Fund With Improving Valuation
Cohen & Steers Select Preferred and Income Fund, Inc. (PSF) Notification of Sources of Distribution Under Section 19(a)
PTA: Preferred Fund At An Attractive Valuation
Cohen & Steers Select Preferred and Income Fund, Inc. (PSF) Notification of Sources of Distribution Under Section 19(a)