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Horizon Marijuana Life Sciences Index bolstered with new additions

New names, such as Flowr Corp, Heritage Cannabis and ICC International Cannabis, have been added to the Horizon Marijuana Life Sciences Index

cannabis stock
HMMJ is an index ETF that seeks to replicate the performance of the North American Marijuana Index

A number of new cannabis players have been added to the quarterly rebalance of the Horizon Marijuana Life Sciences Index (HMMJ) ETF.

HMMJ bolstered its portfolio as more firms have become eligible for inclusion in its underlying index – the North American Marijuana Index.

Companies added to the list include: Flowr Corp (CVE:FLWR), Heritage Cannabis Holdings Corp (CSE:CANN), ICC International Cannabis Corp (CSE:WRLD.U), Zenabis Global Ltd (CVE:ZENA), PharmaCielo Ltd (CVE:PCLO) and Westleaf Inc (CVE:WL).

HMMJ was up 1.1% at C$23.73 on Tuesday afternoon. 

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Additionally, AgraFlora Organics International Inc (CSE:AGRA), Cannara Biotech Inc (CSE:LOVE), Charlotte's Web Holdings Inc (CSE:CWEB) and 48North Cannabis Corp (CVE:NRTH) were added to the portfolio. 

"HMMJ is the best-performing equity ETF in Canada, with a year-to-date return of 58.95%*, as at last Friday's close," said Steve Hawkins, President and CEO of Horizons ETFs. "As the number of listings and the market-capitalization of cannabis stocks continues to grow so dramatically, so too have the number of eligible issuers to be included in HMMJ. This is why the ETF has added 10 new names to its portfolio, bringing the total number of investee companies in HMMJ to 59."

READ: Flowr Corp’s medical cannabis available to patients online at Shoppers Drug Mart

HMMJ is rebalanced each quarter and is an Index ETF that seeks to replicate the performance of the North American Marijuana Index. The index is designed to provide investors with exposure to a basket of North American publicly listed life sciences companies with significant business activities in the cannabis industry.

--Index performance updated--

Contact Katie Lewis at [email protected]

Follow her on Twitter: @kelewis

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on 26/6/19

2 min read