| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for Virtus ETF Solutions > News item |
Virtus, Infrastructure roll out Virtus InfraCap U.S. Preferred ETF
By Susanna Moon
Chicago, May 17 – Virtus ETF Solutions, an affiliate of Virtus Investment Partners, Inc., has worked with Infrastructure Capital Advisors, LLC to produce the Virtus InfraCap U.S. Preferred Stock ETF, which begins trading Thursday under the ticker “PFFA” on NYSE Arca.
The exchange-traded fund will invest in a portfolio of more than 100 preferred securities issued by U.S. companies with market capitalizations of more than $100 million, according to a company announcement.
“The fund seeks current income and capital appreciation in a sector that may be less understood by investors,” according to Jay Hatfield, founder and chief executive officer of InfraCap and co-portfolio manager.
Portfolio managers will evaluate companies for their competitive position, potential to earn high returns on capital, stability and reliability of profits, potential to generate cash in excess of growth needs, and access to capital, the release said, with modest leverage used to seek enhanced portfolio beta and options strategies to seek enhanced current income.
“We are excited to offer PFFA because the nuances of preferred stock investing demands active management, which we can provide in an ETF form,” Hatfield said. “Investors can benefit from active management in this sector, as the call features of preferred stock often require portfolio managers to avoid capital losses on mandatory calls.”
Virtus ETF Solutions is a New York-based, multi-manager ETF sponsor and affiliate of Virtus Investment Partners, which is a Hartford, Conn.-based provider of investment management products and services.
Infrastructure Capital is a registered investment adviser that manages exchange-traded funds and a series of hedge funds based in New York.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.