Horizons ETFs announced Feb. 14 the launch of Horizons Emerging Marijuana Growers Index ETF. Units began trading on the Aequitas NEO Exchange Feb. 14 under the ticker symbol HMJR.
HMJR aims to replicate the Emerging Marijuana Growers Index, which provides exposure to the performance of a basket of mostly North American publicly-listed, small-cap companies, involved in the marijuana industry. To be initially included within the index, stocks generally must have a market capitalization greater than $50 million but less than $500 million.
Direct exposure to small-cap marijuana companies
"HMJR is the first ETF in Canada to give investors direct exposure to blossoming smaller-cap marijuana cultivation and distribution companies," said Steve Hawkins, president and co-CEO of Horizons ETFs. "We believe the companies poised to benefit the most from the rapidly expanding legalization of marijuana globally, particularly in the recreational markets of Canada and certain U.S. states, are the growers and cultivators of the product."