There’s a new cannabis ETF in town, and it’s leveraged.
Launched by ETF Managers Group (ETFMG), the thematic exchange-traded fund issuer behind the world’s largest cannabis ETF, the ETFMG Alternative Harvest ETF (NYSE:MJ), ETFMG 2x Daily Alternative Harvest ETF (NYSE:MJXL) is designed to seek daily leveraged exposure of 2x to the performance of its Prime Alternative Harvest benchmark index.
“It’s exciting to launch another leveraged ETF that provides amplified exposure to a high-growth theme,” Sam Masucci, CEO and founder of ETFMG, told Benzinga. “MJXL joins our cannabis suite of ETFs alongside MJ, our first-to-market global cannabis fund, and MJUS, which provides access to top names in U.S. cannabis, including MSOs. ETFMG has become a one-stop shop for cannabis investing as the legal landscape expands exponentially.”
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