FLC - PTA And FLC: Exposure To Preferred Securities And Monthly Distributions
2024-06-16 11:52:42 ET
Summary
- Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund and Flaherty & Crumrine Total Return Fund have been performing well as rates have stabilized.
- PTA has outperformed FLC in terms of total NAV and share price returns over the last three years, thanks partly to being hedged.
- Both funds are leveraged and may benefit from future rate cuts, but it is FLC that could potentially see the greater rebound.
Written by Nick Ackerman, co-produced by Stanford Chemist.
Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund ( PTA ) and Flaherty & Crumrine Total Return Fund ( FLC ) have been climbing their way higher since each of our respective last updates. A portion of this was the discount narrowing rather materially for PTA and, to a lesser degree, for FLC. However, the performance of the fund's underlying portfolios has also been doing better as well....
PTA And FLC: Exposure To Preferred Securities And Monthly Distributions