In a recent Form 13F filed with the U.S. Securities and Exchange Commission, New York City-based division of French multinational investment firm Société Générale, SG Americas Securities, LLC, disclosed that it bought a stake in international cannabis conglomerate Canopy Growth Corp. (NYSE:CGC) (TSX:WEED).
According to Bloomberg, “SG Americas Securities, LLC provides investment banking services. It focuses on capital markets, securities, underwriting, mergers and acquisitions, derivatives, and trading services. The firm also provides clearing, settlement, and custodial services. ”
With an estimated $11.438 billion in assets under management as of a recent Form ADV, SG Americas Securities, LLC’s recent purchase of 4,662 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 SG Americas Securities, 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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