As part of a quarterly update, the biggest publicly traded exchange-traded fund (ETF) for the cannabis space added 10 new cannabis stocks.

The Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) completed its quarterly rebalance and updated investors on its new holdings on Tuesday (March 19).


With these new additions, Horizons ETFs Management confirmed the ETF now has 59 cannabis stocks in its holding list.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Horizons ETFs indicated that, as of March 15, the ETF had netted a return of 58.95 percent over a year-to-date period.

Here is a list of the stocks added to HMMJ’s portfolio:

ETF management team sees potential in rising US CBD market

Horizons ETFs highlighted a new sector of the overall market it will be exploring moving forward: hemp-derived cannabidiol (CBD).

“According to a study by the Brightfield Group, the US legal CBD industry alone could be worth US$22 billion within the next two years, which puts that single market by itself at roughly the same target market size of the entire Canadian Marijuana industry,” Steve Hawkins, president and CEO of Horizons ETFs, said in a press release.

The ETF managers pointed to the addition of Charlotte’s Web as its intent to capitalize on this booming CBD space.

This Colorado-based company holds a market capitalization of just over C$368 million. Shares of the firm have increased in value over a year-to-date period by 44.82 percent to reach a price of C$21.71.

As part of its previous rebalancing in December 2018, Horizons ETFs included Khiron Life Sciences (TSXV:KHRN,OTCQB:KHRNF), MediPharm Labs (TSXV:LABS,OTCQB:MLCPF) and Auxly Cannabis Group (TSXV:XLY,OTCQX:CBWTF) to the mix.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

In September 2018, HMMJ crossed the C$1-billion mark for assets managed in its holdings.

The space for ETFs focused on the cannabis market has grown with the addition of other funds attracting investors. HMMJ remains as a passively managed index designed to offer investors a basket of North American companies with significant interests in the marijuana space.

Other cannabis-centric ETFs have differentiated by offering active management, appointing a portfolio manager and making sure to actively add or drop stock in a company depending on the evolution of the market.

Following the success of HMMJ, Horizons ETFs launched an additional publicly traded ETF to focus on smaller ventures in the marijuana market.

The Horizons Emerging Marijuana Growers Index ETF (NEO:HMJR) made its debut in February 2018.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Cannara Biotech, The Flowr Corporation, Heritage Cannabis Holdings, Khiron Life Sciences and MediPharm Labs are clients of the Investing News Network. This article is not paid-for content.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

TransCanna (CSE: TCAN) (FSE: TH8) (“the Company”) is pleased to announce that plants are going into its first crop management site today – a greenhouse in Wesley, California.

The Company partnered with the 3rd generation cannabis farmers at 365 CannaFarms to consult on the construction of the state-of-the-art, computer-controlled greenhouse and to help manage the crop for the client, Central Valley Growers. The entire crop is comprised of premium genetic strains from Lyfted Farms, TransCanna‘s wholly-owned subsidiary.

Keep reading... Show less

Acquisition strengthens clinic portfolio for mental health treatment using psychedelic-assisted therapies

Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced it has closed its acquisition of the Neurology Centre of Toronto (NCT), a leading Canadian provider of clinical neurologic care. The purchase agreement was previously announced on July 6, 2021 .

Keep reading... Show less

Zelira Therapeutics Ltd (ASX: ZLD) (OTCQB: ZLDAF), a global leader in the research and development of clinically validated cannabinoid medicines, is pleased to announce the US launch of the Zelira Dermatology Business’ first product line, RAF FIVE ™ through its dermatology subsidiary Ilera Derm LLC (“Zelira Dermatology”).

Keep reading... Show less

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Hempsana Holdings Ltd. (the “ Company ” or “ Hempsana ”) is excited to announce that the Company has received approval from Health Canada to amend their cannabis licence to authorize the activity of sale of cannabis extracts, beverages, edibles, and topical products. The amended licence will allow Hempsana to supply and sell finished cannabis products directly to provincial distributors and other authorized Canadian retail supply channels.

Keep reading... Show less

Harvest Health & Recreation Inc. (“Harvest”) ( CSE: HARV OTCQX: HRVSF ), a vertically integrated cannabis company and multi-state operator in the U.S., today announced the opening of a new medical dispensary in Port St. Lucie, Florida .

Keep reading... Show less