The Alternative Harvest ETF is adding new content to its portfolio
Launched in 2015, Alternative Harvest ETF is one of today’s cannabis funds, with about $422 million in assets under management. It tracks the performance of the Prime Alternative Harvest index, which was created to allow investors to capitalize on both event-driven news and long-term trends in the cannabis industry. This exchange-traded fund specializing in Canadian cannabis companies and ancillary marijuana businesses will now also begin to open up space to include US-based multi-state marijuana operators (MSOs).
This ETF has a large number of millions in assets, and more than 40 participants, as indicated by the website last Saturday. These stocks include some of the biggest names in the cannabis space, such as Tilray, Canopy Growth and GrowGeneration. In addition, this fund has a high annual turnover, which is a testament to the work of fund managers who regularly invest in stocks to generate income and dividends.
“With bipartisan support for federal cannabis reform (in the United States) at an all-time high, and with key senators open to supporting moderate reform measures separate from legislation that provides comprehensive federal legalization, we believed now was the right time to add exposure to plant-touching US companies,” Jason Wilson, ETFMG cannabis research and banking expert, said in a news release.
The key reason ETFMG Alternative Harvest ETF is in the leading position is its sheer scale and the proactivity of its fund managers. The Alternative Harvest ETF trades on the NYSE Arca Exchange as MJ.