May 25, 2011 at 10:00 AM EDT
Global X Debuts First Canada Preferred Stock ETF (CNPF)
Wednesday marks the first day of trading for another Global X ETF, as the company introduced a fund offering exposure to a basket of preferred stocks from Canadian issuers that trade on the Toronto Stock Exchange. The Global X Canada Preferred ETF (CNPF) seeks to replicate the Solactive Canada Preferred Index, a benchmark that includes nearly 60 different preferred stock issues from companies operating in various sectors of the Canadian economy. Financials are the biggest allocation within the portfolio, making up nearly 75% of assets. Energy firms (10%), telecom companies (6%) and consumer discretionary companies (5%) make up the remainder of the exposure. Preferred Stock Appeal Preferred stock is a unique asset class, exhibiting characteristics of both equities and fixed income. Preferred stock has been a popular source of financing for banks for decades, and has been popular with investors because of the ability to generate stable cash flows while [...] Click here to read the original article on Related Posts: iShares Planning International Preferred Stock ETF Preferred Stock ETFs Continue Winning Streak Definitive Guide To Preferred Stock ETF Investing Preferred Stock ETFs Still Popular September 2009 ETF Roundup: Launches, Filings, and Closures
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