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 > Fair price and future of PTA with Brent Crude at 60-65?

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Comment by mrpanickon Dec 09, 2014 4:19pm

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RE:RE:RE:RE:RE:RE:Fair price and future of PTA with Brent Crude at 60-65?

I think we will see G&A dropping on a per barrel basis for a couple of reasons. They did all sorts of deals besides Suroco lately including farm-ins and farm-outs. Production is increasing (at least as I see it), so costs are going to drop on a per barrel basis. I don't see PTA as a high cost company. Perhaps that's because I trade a lot of US based companies where salaries, legal costs and other costs tend to be far higher. I would also note that many warrants have expired worthless and options (which were a "cost") are way out of the money. Seems to me that some costs are dropping. Same thing for costs related to the mgt stock appreciation rights.

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