Horizons ETFs expands ways to gain exposure to marijuana equities

By The IJ Staff | June 18 2018 11:30AM

Photo: PixaBay

Horizons ETFs Management (Canada) Inc. announced on June 18 new developments with its suite of Marijuana-focused exchange traded funds. These include the listing of futures contracts on the Horizons Marijuana Life Sciences Index ETF (HMMJ) and the filing of a preliminary prospectus to launch leveraged, inverse and inverse leveraged ETFs that provide exposure to Canadian-listed Marijuana companies.

Futures on units of HMMJ will begin trading June 18 on the Montreal Exchange. Futures contracts on HMMJ will be available with quarterly expiration dates, in January, March, June and September – initially extending to a June 2019 expiry, says the company.

Rapidly growing sector

"We view the formal availability of futures on HMMJ as recognition by the Canadian investor marketplace that HMMJ is the key benchmark for Marijuana investing in Canada," said Steve Hawkins, President and Co-CEO of Horizons ETFs. "For us, this further legitimizes marijuana-equity investing and HMMJ as the key way to get broad index exposure to this rapidly growing sector."

Three new ETFs

Horizons ETFs also filed a preliminary prospectus last week to launch three new ETFs that provide leveraged, inverse and inverse leveraged exposure to Canadian-listed Marijuana companies as represented by the Solactive Canadian Marijuana Companies Index. These preliminary filings are subject to change and subject to regulatory approval.

These ETFs will be branded under Horizons ETFs' family of tactical BetaPro ETFs, says the company.