BlackRock’s ETF unit, iShares, is planning to float a dividend-focused ETF, Index Universe reports. The iShares S&P International Preferred Stock Index Fund will own preferred stock in developed markets outside the U.S. The new vehicle will track the performance of the S&P International Preferred Stock Index, which tracks the performance of a group of non-U.S. issued or non-U.S.-listed preferred stocks. BlackRock Fund Advisors has been appointed as the subadvisor of the fund, which has about 50 holdings, each with a market capitalization of more than $100 million.
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