Van Eck wants to offer a preferred stock ETF with a twist, according
to their recent filing, ETFdb reports
The New York-based mutual fund firm plans to launch the Market Vectors Preferred
Securities ex-Financials ETF
, which will avoid exposure to financial securities but will invest in REITs. Van Eck did not reveal the proposed's ETF's pricing or ticker symbol in the filing.
According to ETFdb
, the most popular funds in this category are currently the $8.3-billion iShares S&P U.S. Preferred Stock Index Fund and the $95-million S&P
International Preferred Stock Index Fund.
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