The product, known as the Nuveen Quality Preferred Income Fund, is the first closed-end ETF to invest primarily in investment-grade taxable preferred securities, the firm said in a statement.
The fund is intended to help investors diversify their portfolios, said Paul Williams, Nuveens VP of closed-end ETF development.
Spectrum Asset Management will sub-advise the fund, and
Nuveen initially filed the fund with the SEC in late April.