Cohen & Steers Tax-Adv Pref Secs and Inc Fund V.PTA

Primary Symbol: PTA

The Funds primary investment objective is high current income. The Funds secondary investment objective is capital appreciation The Fund seeks to achieve its investment objectives by investing at least 80% of its managed assets (i.e., net assets plus assets obtained through leverage) in a portfolio of preferred and other income securities issued by U.S. and non-U.S. companies, which may be either exchange-traded or available over-the-counter. In pursuing its investment objectives, the Fund seeks to achieve favorable after-tax returns for its shareholders by seeking to minimize the U.S. federal income tax consequences on income generated by the Fund. There can be no assurance that the Fund will achieve its investment objectives.

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Cohen & Steers Tax-Adv Pref Secs and Inc Fund > B Warrants - Manipulation?

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Post by hockeylad33on Mar 05, 2014 12:23pm

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Post# 22283561

B Warrants - Manipulation?

Unfortunately, it seems likely that the B warrants will expire in about 2 months time, and that the price is being held down (aritficially or by virtue of the warrant overhang at 0.20/sh).

I own both shares and warrants, but I believe the price will continue to flounder until after the warrant expiry, at which time it should have a steady increase.

There is no way that a company cash-flowing like PTA (+/- 6,400 boepd) should have an EV of
($175M m/c+ 35M debt - $90 cash= EV of $120M.

This gives an EV/flowing barrell of approx $18,750. That is absurd. It should easily be $45,000 + per flowing barrell. Maybe more at today's oil price.

And that gives zero value to their exploration and appraisal program.

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