Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund
PTA
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- Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund (PTA) is a non-diversified, closed-end management investment company that seeks high current income through investments in tax-advantaged preferred securities and other income-producing instruments. Launched by Cohen & Steers, Inc. and managed by Cohen & Steers Capital Management, Inc., the fund, formed on October 26, 2020 (with registration effective November 14, 2019), is headquartered at 1166 Avenue of the Americas, 30th Floor, New York, New York 10036, United States, and trades on the NYSE under the ticker PTA. It primarily invests in fixed income markets globally, focusing on preferred stock and debt securities rated BBB- or above by S&P; floating-rate and fixed-to-floating-rate preferred securities; fixed- and floating-rate corporate debt securities; convertible securities; and contingent capital securities, employing fundamental analysis and derivatives for portfolio construction across securities of any maturity. The fund targets institutional and retail investors seeking tax-advantaged income exposure in the asset management sector, with a portfolio emphasizing financials and utilities issuers in North America and select global regions. Key executives include President and CEO Adam M. Derechin, CFO James Giallanza, and Chief Legal Officer Dana A. DeVivo. PTA provides monthly distributions, with recent declarations for January, February, and March 2026 announced on December 17, 2025, supporting an attractive yield of approximately 7.7% amid narrowing discounts to net asset value. In early 2025, PTA implemented a tweak to its investment policy, broadening flexibility while maintaining its core focus on high-quality preferred and income securities, which analysts view as positioning the fund favorably for interest rate declines and improved income coverage. Recent SEC filings reflect ongoing portfolio reporting and governance activities, including a DEF 14A proxy statement in March 2025 and N-CSRS certification in July 2025, with no major acquisitions, partnerships, funding rounds, or structural reorganizations reported in the last 1-2 years. The fund continues to benefit from Cohen & Steers' broader platform, which manages approximately $90.6 billion in assets as of late 2025.