Yuji Sakai The Cohen & Steers Select Preferred and Income Fund ( NYSE: PSF ) is a closed-end fund, or CEF, that income-focused investors can purchase as a method of achieving their income goals. The fund does fairly well at this task, as it currently boasts a 7.82% yield.
This is in line with many of the fund’s peers, but this one is far from the highest-yielding option that is available to investors in preferred stock funds: Fund Name Morningstar Classification Current Yield Cohen & Steers Select Preferred and Income Fund Fixed Income-Taxable-Preferreds 7.82% First Trust Intermediate Duration Preferred and Income Fund ( FPF ) Fixed Income-Taxable-Preferreds 9.23% Flaherty & Crumrine Preferred Securities Fund ( FFC ) Fixed Income-Taxable-Preferreds 6.
87% John Hancock Preferred Income Fund ( HPI ) Fixed Income-Taxable-Preferreds 8.94% Nuveen Preferred & Income Opportunities Fund ( JPC ) Fixed Income-Taxable-Preferreds 7.93% Click to enlarge As we can see here, the yield of the Cohen & Steers Select Preferred and Income Fund is reasonably in line with the preferred stock closed-end funds that are available from Flaherty & Crumrine and Nuveen.
However, it falls short of all of John Hancock’s offerings, as well as the First Trust Intermediate Duration Preferred and Income Fund. Investors in preferred stock funds typically like to maximize their incomes, so the tendency would be to put their money into a fund with a higher yield. The fact that this one is lower than a few of i.
