In a recent Form 13F-HR/A filed with the U.S. Securities and Exchange Commission, Greenville, South Carolina-based financial advisor and retirement planner FinTrust Capital Advisors, LLC disclosed that it increased a stake in international cannabis conglomerate Tilray Inc. (NASDAQ:TLRY) (FRA:2HQ).
According to Bloomberg, FinTrust Capital Advisors “provides retirement and financial planning, portfolio management, asset allocation, and risk tolerance services to charitable institutions, foundations, endowments, estates, and trusts.”
Including the additional 25,000 shares, FinTrust Capital Advisors, LLC now holds a total of 31,500 shares of Tilray stock. At the last-traded price of $5.40 USD per share, that position is worth approximately $170,100.
With an estimated $500 million+ in assets under management according to the firm’s Form ADV, FinTrust Capital Advisors’ recent purchase of 25,000 additional shares of TLRY amounts to a small allocation for the firm. That said, it is always a bullish signal when money managers like FinTrust Capital Advisors, LLC are getting involved.
We’ll continue to keep a close eye on 13F filings to see what institutional investors are up to in the cannabis sector. In the meantime, be sure to subscribe to cannabis stock updates here so you never miss an important update.
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