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Horizons Emerging Marijuana Growers Index ETF bolstered with new additions

New cannabis players have been added to the quarterly rebalance of the Horizons Emerging Marijuana Growers Index ETF

cannabis leaf up symbol
HMJR seeks to replicate the performance of the Emerging Marijuana Growers Index

It's been a busy week for Horizons ETFs Management, which rebalanced a number of its cannabis-focused ETFs adding a host of new players. In the Horizons Emerging Marijuana Growers Index ETF (NEO:HMJR) the firm has bolstered its portfolio as more firms have become eligible for inclusion in its underlying index – the Emerging Marijuana Growers Index. 

The list of companies added is long – more than 20 – and includes companies such as Cannabis One Holdings Inc (CSE:CBIS) (OTCMKTS:CAAOF), ICC International Cannabis Corp (CSE:WRLD.U) (OTCMKTS:WLDCF), Body & Mind Inc (CSE:BAMM) (OTCMKTS:BMMJ), Ignite International Brands (CSE:BILZ) (OTCMKTS:IILBF) and Auxly Cannabis Group Inc (CVE:XLY) (OTCMKTS:CBWTF). 

READ: Cannabis One sees US$9 million in annual contract fee revenue via partnerships in Oregon, Washington

"The HMJR portfolio had more than 20 names added to it this quarter. Many of these new constituents are companies focused on non-Canadian markets," said Steve Hawkins, CEO of Horizons ETFs. "HMJR now has significant exposure to emerging global marijuana markets, including Australia, Israel, and of course the United States. Many of the new entrants to these markets start as smaller-capitalization stocks, meaning that HMJR tends to get exposure to the early entrants into new markets."

HMJR was down 0.5% at C$5.80 by Thursday's close. 

Other additions include Stem Holdings Inc (CSE:STEM) (OTCMKTS:STMH), Zenabis Global Inc (TSE:ZENA) (OTCMKTS: ZBISF), Cannara Biotech Inc (CSE:LOVE), Cansortium Inc (CSE:TIUM.U) (OTCMKTS:CNTMF) and Sugarbud Craft Growers Corp (CVE:SUGR) (OTCMKTS:RLLRF). 

READ: ICC International Cannabis says Danish facility could produce 20 million grams of dried cannabis flower per year

HMJR is rebalanced each quarter and is an index ETF that seeks to provide exposure to the performance of a basket of primarily North American publicly listed small-capitalization companies primarily involved in the cultivation, production and/or distribution of marijuana. The fund seeks to replicate the performance of the Emerging Marijuana Growers Index. 

-- updates fund price --

Contact Katie Lewis at katie@proactiveinvestors.com

Follow her on Twitter: @kelewis

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