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Name change announced for Horizons Medical Marijuana Life Sciences ETF

By The IJ Staff | June 12 2017 11:30AM

Horizons ETFs Management has announced it will be changing the name of Horizons Medical Marijuana Life Sciences ETF to Horizons Marijuana Life Sciences Index ETF effective June 15.

The ticker symbol, HMMJ, remains unchanged. This exchanged traded fund offers direct exposure to North American-listed companies with significant business activities in the marijuana industry.

Regulatory change

"The North American marijuana industry continues to evolve rapidly from a regulatory and issuer perspective. We want to ensure that HMMJ has the flexibility to own a diversified portfolio of marijuana industry stocks so it can meet its investment objectives," says Steve Hawkins, president and co-CEO of Horizons ETFs.

"We have also changed the name of HMMJ to reflect that the ETF will become more than just a medical marijuana ETF, as it will have the potential to invest in a range of recreational cannabis-focused opportunities as applicable laws evolve in both Canada and the United States".

U.S. currency

Horizons ETFs also announced the listing of HMMJ in U.S. dollars, effective on or about June 19. This means Canadian investors can choose to invest in HMMJ using Canadian or U.S. denominations. U.S. dollar-denominated units of HMMJ will trade under the ticker symbol "HMMJ.U".

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