ETF Watch: Preferred Fund Planned

The Principal Financial Group has filed for another actively managed fund, an ETF that will target preferred securities. The Principal Spectrum Preferred Securities Active ETF will invest in a broad range of preferred securities, according to the prospectus, including preferred stock, real estate investment trust securities, subordinated debt and convertible securities.

The prospectus also notes that the fund will be able to invest in investment-grade and high-yield securities, and that it will target securities issued in the U.S. by firms that operate outside of the financial services space.

The filing did not include a ticker or expense ratio, but it did note that the fund will launch on the Bats exchange. ETF.com is owned by Bats Global Markets.

Additional Updates

• The C-Tracks - Citi Volatility Index Total Return ETN (CVOL) was suspended from trading as of the market close on May 23.

Contact Heather Bell at [email protected].