State Street Global Advisors (SSgA) is seeking to roll out a floating rate exchange-traded fund (ETF), Index Universe reports. The firm has filed with the Securities and Exchange Commission for the same.

The SPDR Barclays Capital Investment Grade Floating Rate ETF will be designed around a benchmark that tracks an index of U.S.-dollar-denominated, investment-grade floating rate notes. SSgA Funds Management is adviser to the new fund, adds ETF Daily News.

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