The First US Based Marijuana ETF Celebrates 30 Day Success and a New NYSE Ticker
February 09 2018 - 8:00AM
Business Wire
As of today’s market open the ETFMG Alternative Harvest ETF has
evolved its NYSE ticker by dropping the “X” to go from the previous
MJX to the simpler MJ. This change came about as a response to
market feedback. The fast growing first-to-market ETF product can
now be found under the ticker MJ and all ETF product information is
available at the new URL www.etfmj.com.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20180209005122/en/
Since its first day of trading on December 26, 2017, the ETFMG
Alternative Harvest ETF has seen rapid market adoption and strong
asset growth. Just 30 days after the fund began trading the AUM
grew from $5.7 Million to $417 Million1. In addition to fund
performance, there continues to be overwhelming medical
breakthroughs from the cannabis pharmaceutical world. Various forms
of medicinal cannabis products are currently used to treat
illnesses such as Multiple Sclerosis, HIV, Parkinson’s Disease,
Glaucoma, and Cancer. GW Pharmaceuticals, a portfolio company
within MJ, has the leading treatment for children’s epileptic
seizures derived from the cannabis plant.
ETFMG CEO and Founder Sam Masucci said, “We have believed in the
investor appetite and need for a US based pure play marijuana ETF
product for a long time and it is great to see an over 7,000%
growth in AUM in just 30 days of trading.” Sam continued by saying,
“The marijuana industry is a multi-billion-dollar industry, we will
continue focusing on product education while highlighting in
particular the amazing medicinal applications for cannabis
products. We greatly look forward to seeing where MJ goes from
here.”
In the first 30 days of trading the ETFMG Alternative Harvest
ETF enjoyed an average daily volume of approximately 2.1 million
shares. Given the growing acceptance of marijuana, especially on
the medicinal front, it stands to reason that this is just the
beginning for the first and only US based ETF product to give
investors direct access to the marijuana industry. For more
information on MJ please visit us at www.etfmj.com.
Carefully consider the Fund's investment objectives, risk
factors, charges and expenses before investing. This and additional
information can be found in the Fund’s statutory and summary
prospectus, which may be obtained by calling 1-844-383-6477 or by
visiting www.etfmj.com. Read the prospectus carefully
before investing.
Past performance does not guarantee future results. Short
term performance, in particular, is not a good indication of the
fund’s future performance, and on investment should not be mode
based solely on returns.
The ETFMG Alternative Harvest ETF seeks to provide investment
results that, before fees and expenses, correspond generally to the
total return performance of the Prime Alternative Harvest
Index.
Investing involves risk, including the possible loss of
principal. Shares of any ETF are bought and sold at market price
(not NAV), may trade at a discount or premium to NAV and are not
individually redeemed from the Fund. Brokerage commissions will
reduce returns. Narrowly focused investments typically exhibit
higher volatility.
The possession and use of marijuana, even for medical purposes,
is illegal under federal and certain states’ laws, which may
negatively impact the value of the Fund’s investments. Use of
marijuana is regulated by both the federal government and state
governments, and state and federal laws regarding marijuana often
conflict. Even in those states in which the use of marijuana has
been legalized, its possession and use remains a violation of
federal law. Federal law criminalizing the use of marijuana
pre-empts state laws that legalizes its use for medicinal and
recreational purposes. Cannabis companies and pharmaceutical
companies may never be able to legally produce and sell products in
the United States or other national or local jurisdictions.
The Fund’s investments will be concentrated in an industry or
group of industries to the extent that the Index is so
concentrated. In such event, the value of the Fund’s shares may
rise and fall more than the value of shares of a fund that invests
in securities of companies in a broader range of industries.
The consumer staples sector may be affected by the
permissibility of using various product components and production
methods, marketing campaigns and other factors affecting consumer
demand. Tobacco companies, in particular, may be adversely affected
by new laws, regulations and litigation. The consumer staples
sector may also be adversely affected by changes or trends in
commodity prices, which may be influenced or characterized by
unpredictable factors.
As of 1/25/2018, the Fund held GW Pharmaceuticals. For complete
holdings information, please visit www.etfmj.com/fund.
The fund is distributed by ETFMG Financial LLC. ETF Managers
Group LLC and ETFMG Financial LLC are wholly owned subsidiaries of
Exchange Traded Managers Group LLC (collectively, "ETFMG").
1 As of 1/25/2018.
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version on businesswire.com: http://www.businesswire.com/news/home/20180209005122/en/
Zito PartnersDeborah Kostroun,
201-403-8185Deborah@zitopartners.com
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