In a recent Form 13F filed with the U.S. Securities and Exchange Commission, New York City-based quantitative hedge fund Signition LP disclosed that it boosted its stake in international cannabis conglomerate Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) and opened a long position in Canadian cannabis and produce grower Village Farms International Inc. (NASDAQ:VFF) (TSX:VFF) in the recent quarter that ended March 31st, 2019.
Before launching Signition as a 78-year-old, “George Zweig discovered the quark at age 26, assisted with a covert military operation during the Vietnam War and helped design one of the first cochlear hearing implants.” Having told the Wall Street Journal “I’ve still got it,” back in 2015, Signition LP’s recent pot stock purchases show that Zweig is still ahead of the curve.
Now, as of the 13F filing, Signition LP owns a total of 99,094 shares of ACB and 26,000 shares of VFF in its portfolio, each worth approximately $871,036 USD and $295,100 respectively, based on the last traded prices of $8.79 USD per share of ACB on the NYSE and $11.35 USD per share of VFF on the NASDAQ.
With an estimated $604 million in assets under management as of a recent Form ADV, Signition LP’s recent purchase of 26,000 shares of VFF and an additional 72,500 shares of ACB amounts to just a drop in the bucket for the firm. That being said, it is always a bullish signal that institutional investors and money managers like Signition LP are getting involved in cannabis investments.
We’ll continue to monitor 13F filings to see what institutional investors are up to. In the meantime, be sure to subscribe to updates here so you never miss an important update.
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