SUMMIT, N.J.--(BUSINESS WIRE)--ETF Managers Group LLC (“ETFMG”) announced today that MJX, the ETFMG Alternative Harvest ETF is live and available for trading on the NYSE Arca. This fund is one of the first of its kind available to U.S. investors allowing them access to a unique sector in this rapidly evolving market. MJX is designed to replicate the Prime Alternative Harvest Index, which tracks companies likely to benefit from the increasing global acceptance of various uses of the cannabis plant. This includes treatments from innovative medicinal breakthroughs involving the plant’s unique properties – the result of years of significant research by the global biotech and pharmaceutical community.
Sam Masucci, Founder & CEO of ETF Managers Group said: “As an ETF issuer we are excited about opportunities for innovation, the chance to give investors exposure to new markets and doing our part to impact the continued evolution of the ETF industry by meeting the appetite of investor interest.”
The ETFMG Alternative Harvest ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Prime Alternative Harvest Index. For more information on the Fund please visit: www.MJXetf.com.
Effective December 26th, 2017, the Fund’s name (previously the Tierra XP Latin America Real Estate ETF, ticker symbol: LARE) has changed to the ETFMG Alternative Harvest ETF, ticker symbol: MJX. The Fund’s underlying index has been changed to the Prime Alternative Harvest Index which is provided by Prime Indexes and will be calculated by Solactive AG. Information about the index can be found by visiting www.primeindexes.com.
About ETF Managers Group (ETFMG)
ETFMG is a leading Exchange Traded Funds (ETF) private label services company. ETFMG offers a full range of ETF product services to the asset management community including commodity pool ETPs as well as both active and passive ETF funds. The services provided include product operations, regulatory, financial and compliance management. ETF Managers Group offers active marketing and dedicated wholesale services for all ETF product types. For more information on ETF Managers Group visit www.etfmg.com.
Before investing, carefully consider the Fund’s investment objectives, risk factors, charges, and expenses. This and additional information can be found in the Fund’s prospectus, which may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477), or by visiting www.mjxetf.com. Read it carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility.
Companies held by Fund are subject to significant risks, including heightened regulatory risk. The possession and use of marijuana, even for medical purposes, is illegal under federal and certain states’ laws, which may negatively impact the value of the Fund’s investments. Cannabis companies and pharmaceutical companies may never be able to legally produce and sell products in the United States or other national or local jurisdictions. For all important information and investment risks, please visit www.mjxetf.com.
ETF Managers Group LLC is the investment adviser to the fund.
The fund is distributed by ETFMG Financial LLC. ETF Managers Group LLC and ETFMG Financial LLC are wholly owned subsidiaries of Exchange Traded Managers Group LLC (collectively, “ETFMG”). ETFMG Financial LLC is not affiliated with Prime Indexes.