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.

NYSE:PTA - Post by User

Cohen & Steers Tax-Adv Pref Secs and Inc Fund > 11M shares traded.

<< Previous

Bullboard Posts

Next >>

Comment by mrpanickon Jul 19, 2014 8:36pm

288 Views

Post# 22762927

RE:RE:11M shares traded.

Sherbrooke, what you described is what was supposed to happen. What actually happened was far different. Arbs were long Suroco and short Petroamerica. The positions would have cancelled eachother out upon the deal closing. Things got more complicated however. Vetra jumped in and looked likely to win the bidding. The arbs no longer needed the PTA short which many would have covered. That's why PTA surged when Vetra appeared to be winning. The win by Petroamerica was probably a surprise to some arbs who were intending to sell to Vetra, bought Suroco shares they couldn't vote and ended up with the all PTA share option by default. That's where the huge selling volume on Friday came from. The good news is that with the arbs out, we are likely to move higher based on the fundamentals over the next few weeks.

<< Previous

Bullboard Posts

Next >>

Global Tungsten Market and Supply Security