As companies get more and more inventive with their actively managed ETFs, it was only a matter of time before someone tried to complete the circle and create an ETF-mutual fund hybrid, fortunately, the Securities and Exchange Commission has turned them down. Precidian ETFs Trust applied to create a new line of ETFs that would only disclose positions at the end of the quarter, just as mutual funds do, but would provide traders with an Intraday Interactive Value (IIV) to use instead, but the SEC says the proposal has too many defects to get the go ahead. SEC: Precidian wants…