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Our Triple-Factor screen identifies closed-end funds combining a yield above 6.5%, distribution coverage above 90%, and a discount to NAV, using data as of the close of October 9, 2026. PIMCO funds take six of the top seven spots on the yield list, as several that traded at premiums until recently have slipped to discounts. Among our model portfolio holdings, DHF appears on all five lists, and HFRO again has the widest discount at -43.06%.
PSF: A Hold Until Long Yields Stabilize
Cohen and Steers Select Preferred and Income Fund, Inc. (NYSE: PSF - Get Free Report) crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $18.81 and traded as low as $18.03. Cohen and Steers Select Preferred and Income Fund shares last traded at $18.08, with
Cohen and Steers Select Preferred and Income Fund, Inc. (NYSE: PSF - Get Free Report) passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $19.67 and traded as low as $19.23. Cohen and Steers Select Preferred and Income Fund shares last traded at $19.31,
Cohen & Steers Select Preferred and Income Fund remains a hold, with a stable dividend yield but limited growth catalysts amid interest rate uncertainty. PSF trades at an 8.63% discount to NAV, near the deeper end of its historical range, and offers a 7.5% monthly dividend yield supported by earnings. The portfolio is highly concentrated in banking preferreds (54%), uses 33% leverage, and holds 74% below investment-grade credits, amplifying interest rate and credit risk.
Cohen and Steers Select Preferred and Income Fund, Inc. (NYSE: PSF - Get Free Report) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $19.91 and traded as high as $20.13. Cohen and Steers Select Preferred and Income Fund shares last traded at
Cohen & Steers Select Preferred and Income Fund, Inc., is rated a Buy, driven by its 9.34% discount to NAV and robust dividend coverage. PSF yields 7.79% with monthly distributions, covered 1.22x by NII plus realized gains in 2025, and maintains a diversified portfolio of 317 preferred securities. Banking sector exposure is significant at 54%, with 50% of holdings investment grade and a bias toward long-term maturities.
Cohen & Steers Select Preferred and Income Fund is mispriced due to market focus on income metrics, overlooking its capital appreciation strategy. PSF targets institutional preferreds and hybrid capital securities from large, regulated entities, profiting from rapid repricing after financial stress. The fund trades at an 8% discount to NAV, driven by investor misunderstanding of its return drivers and irregular income profile.