ETFMG recently announced a change of ticker for its ETFMG Alternative Harvest ETF (NYSE:MJX) from "MJX" to "MJ" effective this Friday, February 9, 2018. In addition to the change in trading symbol, effective today the domain name for the ETFMG Alternative Harvest ETF has changed to ETFMJ.com to match the new ticker.
This news comes alongside word that the ETF's custodian, U.S. Bancorp, is reviewing whether or not it wants to hold the fund's assets given its ties to the cannabis industry. This could mean "that the marijuana ETF could face an abrupt closure if the institution charged with holding its assets (U.S. Bancorp) pulls the plug and a replacement isn’t found."
According to Cornerstone Investments, there are two different "ifs" in this scenario.
Regardless of what happens with the fund's custodian, the ticker will be changed to "MJ" effective tomorrow, so don't be alarmed if your holding seems to be missing an "X."
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