SSgA To Unveil Floating-Rate ETF

State Street Global Advisors is seeking to roll out a floating rate exchange-traded fund.

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.

Click here for the story from Index Universe.

Click here for additional coverage from ETF Daily News.