In a recent Form 13F filed with the U.S. Securities and Exchange Commission, Summit, New Jersey-based employee-owned asset manager Brave Asset Management, Inc. disclosed that it just bought a stake in Canadian licensed cannabis producer Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).
According to Bloomberg, “The firm primarily provides its services to high net worth individuals. It also caters to individuals and charitable organizations.”
With an estimated $255.7 million in assets under management as of a recent Form ADV, Brave Asset Management, Inc.’s recent purchase of 10,559 shares of Aurora Cannabis 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 Brave Asset Management, Inc. 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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