In a recent Form 13F filed with the U.S. Securities and Exchange Commission, Miramar Beach, Florida-based fiduciary investment advisory firm Arbor Wealth Management, LLC disclosed that it took a stake in international cannabis conglomerate Canopy Growth Corp. (NYSE:CGC) (TSX:WEED), which also marks the first cannabis-related investment for the asset manager.
According to Bloomberg, Arbor Wealth Management, LLC “offers asset management, tax analysis, financial planning, investment strategies, and advisory services” to its more than 250 clients.
With an estimated $217.839 million in discretionary assets under management as of a recent Form ADV, Arbor Wealth Management, LLC’s recent purchase of 490 shares of Canopy Growth 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 Arbor Wealth Management, LLC 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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