Toronto-based Horizons ETFs Management (Canada) Inc. has completed its quarterly rebalances of two marijuana-focused exchange traded funds, the firm announced Wednesday.
The funds are: Horizons Marijuana Life Sciences Index ETF (HMMJ: TSX), the world’s first and largest marijuana-related ETF, which tracks the North American Marijuana Index, and Horizons Emerging Marijuana Growers Index ETF (HMJR: TSX), which focuses on small-cap companies and tracks the Emerging Marijuana Growers Index.
Both funds have added several new companies to their portfolios, and HMJR has removed holdings that no longer qualify for index inclusion.
New additions include: Aleafia Health Inc., Choom Holdings Inc. and Tilray Inc.
“HMMJ’s rebalance comes at a time when there is a significant focus on the sector, given that recreational marijuana will become legal in Canada on Oct. 17,” Steve Hawkins, president and CEO, says in a statement. “With recreational sales starting soon, investors will get a better idea of what companies are poised to become leaders in the recreational cannabis space and are able to generate real sales.”
As of Sept. 5, HMMJ had reached over $1 billion in assets under management.
More information about the rebalances can be found in the company’s news release.