ETFMG Alternative Harvest ETF (NYSE:MJ)
Founded in 2014 and headquartered in Summit New Jersey, this is the largest cannabis-focused exchange-traded fund on the market and the first and only U.S.-listed ETF to target the global cannabis industry directly, via the Prime Alternative Harvest Index.
The top holding in this ETF’s portfolio is the 10.35% share of Britain’s
GW Pharmaceuticals plc (NASDAQ:GWPH), followed by a 9.88% share of Canada’s
Aphria Inc. (NASDAQ:APHA) and a 7.01% share of
Tilray Inc. (NASDAQ:TLRY).
On Dec. 4, 2020, this ETF reached the mark of $1 billion assets under management.
MJ trades around at $20.18, which is between its 52-week high of $34.58 and its 52-week low of $10.12
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Canada’s Aphria Inc reported a loss for the third quarter on Monday as it reeled from fresh coronavirus lockdowns in parts of Canada and Germany, sending its shares down 14 per cent and weighing on other pot producers.
While the pandemic has lifted demand for weed from customers staying at home, sales of cannabis producers suffered during the latest round of restrictions in key markets such as Ontario and Alberta as pot stores were forced to shut.
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By Reuters Staff
(Updates shares, adds rival stocks, comments from conf call, background)
April 12 (Reuters) - Canada’s Aphria Inc reported a loss for the third quarter on Monday as it reeled from fresh coronavirus lockdowns in parts of Canada and Germany, sending its shares down 14% and weighing on other pot producers.
While the pandemic has lifted demand for weed from customers staying at home, sales of cannabis producers suffered during the latest round of restrictions in key markets such as Ontario and Alberta as pot stores were forced to shut.
“The provincial lockdowns were more impactful, particularly in Canada, than we initially expected,” Aphria Chief Financial Officer Carl Merton said on a post-earnings call.
MJ) and AdvisorShares Pure US Cannabis ETF (
MSOS), have taken different strategies in pursuit of their targeted sector.
The Summit, New Jersey-based ETFMG Alternative Harvest ETF (MJ) was founded in 2014 and targets the global cannabis industry by tracking the Prime Alternative Harvest Index. The top holding in its portfolio is its $10.03 share of Canada’s Aphria Inc. (
APHA), followed by an 8.43% share of Britain’s GW Pharmaceuticals plc (
The Bethesda, Maryland-based AdvisorShares Pure US Cannabis ETF (MSOS) only began trading on Sept. 2 of this year and concentrates
solely on cannabis-related businesses within the U.S. market, investing at least 80% of its net assets in the securities of U.S. companies that derive at least half of their net revenue from marijuana and hemp businesses. Slightly more than half of its portfolio belongs to BlackRock Liquidity Funds Treasury Trust Institutional (