In a recent Form 13F filed with the U.S. Securities and Exchange Commission, Toronto, Ontario-based asset management firm TD Asset Management Inc. disclosed that it increased its existing stake in international cannabis conglomerate Canopy Growth Corp. (NYSE:CGC) (TSX:WEED).
According to Bloomberg, “It provides its services to individuals and high net worth individuals. The firm also caters to governments, group RRSP’s, pension funds, corporations, charitable organizations, small and medium sized businesses, institutions, endowments, and foundations.”
With an estimated $57.488 billion in assets under management as of a recent Form ADV, TD Asset Management Inc.’s recent purchase of 35,053 more 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 TD 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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