Cannabis-centric ETF begins trading on Toronto Stock Exchange
A marijuana exchange-traded fund – billed as the world’s first – began trading on the Toronto Stock Exchange on Wednesday, the latest sign the cannabis industry is becoming more of a mainstream sector.
The newly launched Horizons Medical Marijuana Life Sciences ETF packages the stocks of 14 marijuana-related businesses into one security, CBC News reported. The Canadian unit of Horizons ETFs Management oversees the ETF.
An exchange-traded fund owns and tracks certain assets and, unlike a mutual fund, can be traded like a regular stock.
Ten of the ETF’s 14 stocks are based in Canada. Most of the Canadian companies
Cannabis-centric ETF begins trading on Toronto Stock Exchange is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs