Horizons ETFs Management (Canada) Inc. just completed the quarterly rebalance of the constituent holdings of the Horizons US Marijuana Index ETF (NEO:HMUS). Launched back in April of 2019, HMUS was one of the world’s first U.S.-focused marijuana index ETFs.
HMUS seeks to replicate, to the extent possible, the performance of the US Marijuana Companies Index, net of expenses. This index is designed to provide exposure to the performance of a basket of publicly-listed companies having significant business activities in, or significant exposure to, the marijuana or hemp industries in the United States. Constituents of this index are selected from Canadian and U.S. exchanges.
While some securities may be listed on major North American exchanges, the majority of the securities currently trade on North American exchanges that include but are not limited to the Canadian Securities Exchange and the Aequitas NEO Exchange.
This rebalance resulted in the removal of seven cannabis-related companies:
- Chemesis International Inc. (CSE:CSI) (OTC:CADMD)
- Dixie Brands Inc. (CSE:DIXI) (OTC:DXBRF)
- 4Front Ventures Corp. (CSE:FFNT) (OTC:FFNTF)
- High Tide Inc. (CSE:HITI) (OTC:HITIF)
- Rubicon Organics Inc. (CSE:ROMJ) (OTC:ROMJF)
- SOL Global Investments Corp. (CSE:SOL) (OTC:SOLCF)
- 1933 Industries Inc. (CSE:TGIF) (OTC:TGIFF)
Seven other cannabis-related stocks were also cut from another fund, the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) (OTC:HMLSF), due to its quarterly rebalance.
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