SSgA Files For A Third Preferred Stock ETF; The SSgA ETF would compete head-to-head against two others already on the market.

State Street Global Advisors has filed to launch an exchange-traded fund that would invest in nonconvertible preferred stocks. It would trade on the NYSE Arca and seek to replicate the Wells Fargo Hybrid and Preferred Securities Aggregate Index. No cost information was supplied in the filing. Full Story: