Sell: Cohen & Steers Infrastructure Fund, Inc (UTF)
We recommended Cohen & Steers Infrastructure Fund, Inc (UTF) on February 3, 2021, at a price of 26.89. Today, it is trading at 27.70. Not much of a move up.
In reviewing our portfolio, and this particular ETF, I don’t see any compelling reason why the fund will make a dramatic move up in the near future. It’s been an average performer, while the overall market has been reaching new highs.
The fund is currently trading near its 52-week high, and both short- and intermediate-term technical indicators, such as moving average and relative strength, are trending negative. Longer-term, I do believe this infrastructure sector will prove profitable. But, with Congress and President Biden at odds, it doesn’t look like an infrastructure bill—which would give this sector a boost—is in the offing in the near term.
Having said that, I believe we can put the funds from the sale of this ETF to work in a better place, which I’ll be recommending in next month’s issue, coming soon!
Action: Sell Cohen & Steers Infrastructure Fund, Inc (UTF) at market.