(Photo Credit - Investment Zen)
Cannabis investors went wild when Horizons announced that they would be launching a marijuana-focused ETF. Even though this ETF was listed up in Canada on the TSX, many investors have been able to get in on the action through foreign market access as well as the over-the-counter listing for the ETF.
The Horizons Medical Marijuana Life Sciences ETF is a passively managed fund as it seeks to track the Solactive North American Medical Marijuana Index. In an effort to offer investors some variety when it comes to cannabis ETFs, Cambria Investment Management just filed a Form N-1A with the United States Securities and Exchange Commission for a new actively managed cannabis ETF under the ticker TOKE.
This is just a preliminary filing, so there are still a few questions left unanswered including the management fee associated with the fund. Cambria is also filing for a few other new ETFs including the Cambria Domestic Tax Optimized ETF, the Cambria Foreign Tax Optimized ETF and more.
As we get closer to the actual launch of the ETF, we'll be sure to keep readers updated. In the meantime, be sure to subscribe to our newsletter so you never miss an update.