Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund (NYSE:PTA) Trading Down 0.2% – Here’s Why

Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund (NYSE:PTA)’s share price dropped 0.2% during mid-day trading on Friday . The stock traded as low as $18.29 and last traded at $18.39. Approximately 255,114 shares changed hands during trading, an increase of 89% from the average session volume of 134,651 shares. The stock had previously closed at $18.43.

Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund Stock Down 0.2%

The company’s 50 day moving average price is $19.02 and its 200 day moving average price is $19.24.

Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.134 per share. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Tuesday, September 8th.

Hedge Funds Weigh In On Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTA. Rivernorth Capital Management LLC acquired a new stake in shares of Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund during the fourth quarter worth approximately $4,555,000. Bank of America Corp DE boosted its holdings in shares of Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund by 3.6% in the 2nd quarter. Bank of America Corp DE now owns 3,897,344 shares of the company’s stock worth $77,167,000 after acquiring an additional 135,103 shares in the last quarter. Readystate Asset Management LP bought a new stake in Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund during the 4th quarter worth approximately $1,551,000. Fifth Third Bancorp bought a new stake in Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund during the 1st quarter worth approximately $1,323,000. Finally, First Trust Advisors LP acquired a new stake in Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund during the 1st quarter valued at $1,177,000.

Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund Company Profile

The Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund (NYSE: PTA) is a closed-end management investment company that seeks to provide high levels of after-tax total return. The fund pursues this objective primarily through investments in tax-advantaged preferred securities and other income-oriented instruments. Listed on the New York Stock Exchange, PTA offers investors access to a diversified portfolio of income-producing assets managed by a dedicated team of fixed-income specialists.