In a recent Form 13F filed with the U.S. Securities and Exchange Commission, Fairfield, Iowa-based privately-owned investment manager Cambridge Investment Research Advisors, Inc. disclosed that it increased its existing stake in cannabis-focused ETF, the ETFMG Alternative Harvest ETF (NYSE:MJ).
According to Bloomberg, “The firm primarily provides its services to individuals. It also provides its services to high net worth individuals, pooled investment vehicles, pension and profit sharing plans, charitable organizations, corporations, state and municipal government entities, and other investment advisers.”
With an estimated $34 billion in assets under management as of a recent Form ADV, Cambridge Investment Research Advisors, Inc.’s recent purchase of an additional 28,032 shares of MJ 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 Cambridge Investment Research Advisors, 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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