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

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 48,880 shares, a growth of 135.5% from the August 31st total of 20,754 shares. Based on an average daily volume of 117,956 shares, the days-to-cover ratio is presently 0.4 days.

Cohen & Steers REIT and Preferred Income Fund Trading Up 0.7%

Shares of NYSE:RNP opened at $18.88 on Tuesday. The firm’s 50 day moving average price is $20.12 and its 200-day moving average price is $20.41. Cohen & Steers REIT and Preferred Income Fund has a twelve month low of $18.64 and a twelve month high of $22.58.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 8th will be given a $0.1360 dividend. The ex-dividend date is Tuesday, December 8th. This represents a $1.63 annualized dividend and a yield of 8.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the 2nd quarter valued at $44,000. Ameritas Advisory Services LLC bought a new position in Cohen & Steers REIT and Preferred Income Fund in the 2nd quarter worth $218,000. NWF Advisory Services Inc. purchased a new position in Cohen & Steers REIT and Preferred Income Fund during the second quarter valued at $233,000. XML Financial LLC lifted its position in Cohen & Steers REIT and Preferred Income Fund by 6.7% during the second quarter. XML Financial LLC now owns 598,747 shares of the investment management company’s stock valued at $12,155,000 after purchasing an additional 37,672 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Cohen & Steers REIT and Preferred Income Fund by 9.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,123 shares of the investment management company’s stock valued at $327,000 after purchasing an additional 1,395 shares during the period.

Cohen & Steers REIT and Preferred Income Fund Company Profile

Cohen & Steers REIT and Preferred Income Fund, Inc (NYSE: RNP) is a closed-end investment company managed by Cohen & Steers Capital Management. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

RNP invests primarily in real estate investment trusts (REITs) and preferred securities. Its portfolio may include common and preferred securities issued by companies involved in commercial, residential, health care, industrial, retail, and other areas of the real estate industry, along with preferred stocks and other income-producing securities.

The fund was established in 2003 and is designed to provide investors with diversified exposure to real estate and preferred-income markets through a professionally managed portfolio.