Launched by
ETF Managers Group (ETFMG), the thematic exchange-traded fund issuer behind the world’s largest cannabis ETF, the
ETFMG Alternative Harvest ETF (NYSE:MJ),
ETFMG 2x Daily Alternative Harvest ETF (NYSE:MJXL) is designed to seek daily leveraged exposure of 2x to the performance of its
Prime Alternative Harvest benchmark index.
“It’s exciting to launch another leveraged ETF that provides amplified exposure to a high-growth theme,” Sam Masucci, CEO and founder of ETFMG, told Benzinga. “MJXL joins our cannabis suite of ETFs alongside MJ, our first-to-market global cannabis fund, and MJUS, which provides access to top names in U.S. cannabis, including MSOs. ETFMG has become a one-stop shop for cannabis investing as the legal landscape expands exponentially.”
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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
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 (