NEW YORK--(BUSINESS WIRE)--Indxx LLC is pleased to announce the launch of the Indxx REIT Preferred Stock Index (the “Index”). The Index has been licensed to New York-based ETF provider Infrastructure Capital Advisors as the underlying benchmark for the InfraCap REIT Preferred ETF (NYSE: PFFR), which began trading today.
“Indxx is excited to have worked with Infrastructure Capital to identify a growing, high-quality yield opportunity in the REIT space and effectively target it via an index-based approach,” said Rahul Sen Sharma, Partner at Indxx. “We look at it as another example of how we seek to distinguish ourselves as a custom index provider that adds value throughout the index development process.”
Jay D. Hatfield, Co-founder and CEO of InfraCap, commented on the launch, saying, “PFFR is the latest ETF to offer exposure to the REIT industry after S&P added REITs as the 11th sector in the S&P 500 and allows investors to invest in the real estate industry without having to select individual preferred securities. We also believe PFFR will be extremely attractive to investors looking for income in a yield-stretched market.”
The Index is a modified market capitalization weighted index designed to provide diversified exposure to high yielding, liquid preferred securities issued by REITs listed in the US. It may include preferred securities issued by Equity, Mortgage or Hybrid REITs. Preferred securities in the Index may include, without limitation, floating and fixed-rate preferred securities, callable preferred securities, cumulative and non-cumulative preferred securities, convertible preferred securities, trust preferred securities and depositary preferred securities.
The Index (ticker: IPFFR) was backtested to March 31, 2004 with an original value of 1,000. As of December 31, 2016, the index value was 2,658.91 and included 31 securities with a trailing twelve-month dividend yield of 6.77% and a yield to worst of 6.66%. These amounts are subject to change.
Founded in 2005, Indxx seeks to redefine the global indexing space. With offices in New York, London and New Delhi, the firm focuses on Index Development, Index Calculation, Analytics & Research and combines these services in a holistic, customized approach that is unique to the industry and provides maximum benefits to our clients.
For more information please visit: http://www.indxx.com/