Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) Sees Significant Increase in Short Interest

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP – Get Free Report) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 4,738 shares, an increase of 111.3% from the June 15th total of 2,242 shares. Based on an average daily trading volume, of 122,257 shares, the days-to-cover ratio is currently 0.0 days.

Cohen & Steers REIT and Preferred Income Fund Price Performance

Shares of RNP stock traded up $0.20 on Thursday, reaching $20.71. 93,104 shares of the company’s stock were exchanged, compared to its average volume of 126,396. Cohen & Steers REIT and Preferred Income Fund has a 52 week low of $19.27 and a 52 week high of $22.78. The company’s fifty day simple moving average is $20.63 and its 200 day simple moving average is $20.62.

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Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.136 per share. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Tuesday, September 8th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC raised its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 387.9% during the fourth quarter. Future Financial Wealth Managment LLC now owns 57,328 shares of the investment management company’s stock valued at $1,153,000 after acquiring an additional 45,578 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Cohen & Steers REIT and Preferred Income Fund in the fourth quarter worth approximately $2,527,000. Shaker Financial Services LLC bought a new position in Cohen & Steers REIT and Preferred Income Fund in the fourth quarter worth approximately $802,000. XML Financial LLC increased its holdings in Cohen & Steers REIT and Preferred Income Fund by 34.5% during the 1st quarter. XML Financial LLC now owns 561,075 shares of the investment management company’s stock worth $11,087,000 after purchasing an additional 144,035 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Cohen & Steers REIT and Preferred Income Fund by 809.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 137,222 shares of the investment management company’s stock worth $2,725,000 after purchasing an additional 122,129 shares during the period.

About Cohen & Steers REIT and Preferred Income Fund

(Get Free Report)

Cohen & Steers® REIT and Preferred Income Fund, Inc (NYSE: RNP) is a closed-end management investment company that seeks to provide current income and, to a lesser extent, capital appreciation. The Fund pursues its objectives by investing primarily in equity real estate investment trusts (REITs) and preferred securities issued by U.S. and non-U.S. real estate companies. It employs a research-driven, bottom-up selection process to identify securities that offer attractive income yields while seeking to manage downside risk through diversification across sectors and geographies.

In its equity portfolio, the Fund typically holds shares of publicly traded REITs spanning property types such as industrial, office, retail, residential and specialty real estate.

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