Quadravest Launches New Preferred Share ETF

Financial 15 Split Corp (TSE:FTN) has released an update.

Quadravest Capital Management Inc. has announced the launch of its new investment vehicle, the Quadravest Preferred Split Share ETF, trading on the TSX under the symbol PREF, starting June 27, 2024. With an aim to provide monthly distributions and capital preservation, the ETF will invest in a managed portfolio of preferred shares from Canadian corporations and other income-generating securities. The initial monthly distribution is set at $0.05417 per unit, with an annualized target of $0.65 based on the $10.00 issue price, though distributions may fluctuate and are subject to change at the manager’s discretion.

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