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SPDR Wells Fargo Preferred Stock ETF
Ticker Symbol: PSK CUSIP: 78464A292 Exchange: NYSEA
Company's Online Profile
FUND DESCRIPTION: SPDR Wells Fargo Preferred Stock ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the SPDR Series Trust, an investment management company. INVESTMENT OBJECTIVE: SPDR Wells Fargo Preferred Stock ETF seeks to replicate as closely as possible, before fees and expenses, the total return of the Wells Fargo Hybrid and Preferred Securities Aggregate Index. INDEX DESCRIPTION: The Wells Fargo Hybrid and Preferred Securities Aggregate Index is a modified market capitalization weighted index designed to measure the performance of non-convertible preferred stock and securities that are functionally equivalent to preferred stock, including, but not limited to, depositary preferred securities, perpetual subordinated debt and certain securities issued by banks and other financial institutions that are eligible for capital treatment with respect to such instruments akin to that received for issuance of straight preferred stock (collectively, preferred securities. Preferred Securities generally pay fixed rate distributions and typically have preference over common stock in the payment of distributions and the liquidation of a company's assets. Preference means that a company must pay distributions on its Preferred Securities before
paying dividends on its common stock and the claims of Preferred Securities holders are ahead of common stockholders' claims on assets in a corporate liquidation. The Preferred Securities (or the securities into which they are exchangeable) included in the Index are listed on the New York Stock Exchange. Issuers of Preferred Securities may be either U.S. based or foreign. As of July 31, 2009, the Index was comprised of 162 Preferred Securities. FUND STRATEGY: The Fund, using an indexing investment approach, seeks to replicate as closely as possible, before fees and expenses, the total return of the Index. The Fund generally will invest in all of the securities comprising its Index in proportion to the weightings in its Index. Under various circumstances where it may not be possible or practicable to purchase all of the securities in the Index for the Fund, a sampling strategy that uses quantitative analysis to select securities that represent a sample of securities in the Index that have a
similar investment profile as the Index in terms of key risk factors, performance attributes and other characteristics. These include industry
weightings, market capitalization, and other financial characteristics of securities. The quantity of holdings in the Fund will be based on a number of
factors, including asset size of the Fund. The Fund will normally invest at least 80% of the Fund's total assets in securities that comprise its Index and may also invest its other assets in securities not included in its Index as well as in certain futures, options, swap contracts and other derivatives, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including affiliated money market funds). FUND MANAGEMENT: SSgA FM serves as the investment adviser to the Fund.
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IPO - 9/16/2009 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $72.4 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Lincoln Street, Boston, MA 02111 |
| Main Phone Number |
866-787-2257 |
| Fax Number |
Not Available |
| Investor Contact
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866-787-2257
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| Toll Free Phone Number |
866-787-2257 |
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