In trading on Monday, shares of the Cohen & Steers Preferred and Income Opportunities Active ETF (Symbol: CSPF) entered into oversold territory, changing hands as low as $25.48 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of Cohen & Steers Preferred and Income Opportunities Active, the RSI reading has hit 26.6 — by comparison, the RSI reading for the S&P 500 is currently 55.0.
A bullish investor could look at CSPF’s 26.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), CSPF’s low point in its 52 week range is $25.3701 per share, with $26.81 as the 52 week high point — that compares with a last trade of $25.53. Cohen & Steers Preferred and Income Opportunities Active shares are currently trading down about 0.3% on the day.
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Further CSPF Research:
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