2024-01-28 02:27:32 ET
Summary
- Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund remains an attractive place to invest in the preferred space.
- The fund has experienced volatility due to leverage and exposure to convertible contingency securities, but its total NAV returns have held up well.
- PTA's distribution yield is 8.73%, but NII coverage is low and capital gains have not fully offset the decline in net investment income.
Written by Nick Ackerman, co-produced by Stanford Chemist.
The last time we touched on the Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund ( PTA ), we were expecting the fund to have a " brighter looking future ." So far, that's been the case after a fairly tumultuous period of time....
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For further details see:
PTA: Remains A 'Buy' At An Attractive Valuation