Cannabis ETF Makes Several Changes

Horizons Medical Marijuana Life Sciences ETF (TSX: HMMJ) (OTC: HMLSF) added three names to its portfolio today as it scaled back several positions. The ETF had shared its top holdings in the C$104mm fund as of 6/9 on its website:

The complete portfolio also included six other names and cash of 0.24%.

The ETF manager added rour new names today:

ABcann Global (TSXV: ABCN) (OTC: ABCCF) and Maricann Group (CSE: MARI) (OTC: MRRCF) are both newly trading LPs, while Invictus MD Strategies (TSXV: IMH) (OTC: IVITF) has been trading for a couple of years but became an LP only recently following its acquisition of Acreage Farms. Arena Pharmaceuticals (NASDAQ: ARNA) is a biotech that seems to be an odd choice, as it isn’t developing any drugs using cannabinoids but rather one that targets the CB2 receptor. To make room for the new additions, Horizons reduced Insys (NASDAQ: INSY) and Zynerba (NASDAQ: ZYNE).

Horizons has added names to its portfolio before they have been included in the Soloactive index, though this is not the first time. Since its debut two months ago, it has also added 22nd Century Group and Hydropothecary. Soloactive will be rebalancing its North American Medical Marijuana Index later this month.

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