Investing.com | Jan 05, 2021 05:06AM ET
One of the events that marked the close of 2020 in the cannabis sector was the announcement of the quarterly rebalancing of the two main exchange-traded funds (ETFs) that offer exposure to a cross section of companies in the industry.
The exercise added six stocks—three new stocks to each of the ETFs. These equities could be worth putting on your watch list.
The two ETFs are managed by the Canadian-based firm Horizons ETFs. One fund, the Horizons US Marijuana Index ETF (NLB:HMUS), concentrates on American players, while the other, Horizons Medical Marijuana Life Sciences (TSX:HMMJ), focuses primarily on Canadian companies in the cannabis space.
HMUS is the world’s first US-focused marijuana index ETF. It aims to replicate the performance of the US Marijuana Companies Index, which includes many prominent names in the cannabis as well as the hemp industries. Some trade in both Canada and the US.
The three new additions to the ETF are:
Horizon’s HMMJ cannabis ETF was the world’s first ETF in the cannabis space. It aims to replicate the performance of the North American Marijuana Index. All of its members have a market cap of more than C$75 million (US$59 million).
The three new additions to the ETF are:
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.