Biggest marijuana ETF on TSX adds 9 new cannabis companies, including Tilray

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The foremost exchange traded fund for cannabis companies has added nine new marijuana canada entrepreneurs to its holdings.

When it launched last year, the Horizons Marijuana Vital spark Sciences ETF had only a handful of stocks in it, including major producers such as Canopy Improvement and Aurora Cannabis, along with fertilizer maker Scott’s Miracle Get get.

But four times a year, the fund’s managers add and remove companies to the lucre to better replicate the marijuana investment index the fund is attempting to hunt down.

Nine new names have just been added to the fund, bringing the out-and-out to 49 different companies.

The new ones are:

  • Aleafia Health Inc.
  • Choom Holdings Inc.
  • Eve & Co. Inc.
  • GTEC Holdings Ltd.
  • FSD Pharma Inc.
  • James E. Wagner Cultivation Corp.
  • Namaste Technologies Inc.
  • INDIVA Ltd.
  • Tilray Inc.

The giantest name in the bunch is likely Tilray, the Nanaimo-based medical marijuana supplier that has investigated its value skyrocket since its IPO in July. At one point earlier this month, Tilray was hastily the most valuable pot company in the world — despite having a fraction of the receipts or production of more established producers like Canopy, Aurora, Aphria Inc. and others.

It’s not differentiated at what point the fund bought into Tilray or what bounty it paid, which is relevant because the company has been incredibly flighty of late. From an IPO price of $17 US in July, Tilray briefly topped $300 eventually week before plunging back down to earth. In Wednesday buying, Tilray was changing hands at $111 US a share.

Just over seven per cent of the ready is currently invested in Tilray, filings show. The four biggest holdings are Canopy Development Corp., Aurora Cannabis Inc., Aphria Inc., Tilray and British drug rigid GW Pharmaceuticals PLC whose main product is a multiple sclerosis treatment be traceable from cannabis called nabiximols.

Together, those five companies settle up more than half of the fund’s value.

The fund is trading at even-handed over $24 per unit on the TSX on Wednesday, down slightly on the day.

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