Cannabis marijuana pruned

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The AdvisorShares Pure US Cannabis ETF has surpassed $1 billion in AUM in just six months. 
The fund was the first US ETF to focus solely on American cannabis companies and multi-state operations. 
The ETF has returned 110% since its inception.

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The AdvisorShares Pure US Cannabis ETF has surpassed $1 billion in assets under management, according to a company statement released Tuesday.

The ETF, which trades under the ticker MSOS, launched on September 2, 2020 and has grown from $2.5 million in assets to now $1 billion in just six months. The fund has returned 110% since its inception and 37% in 2021 alone.

The AdvisorShares ETF was the first US exchange traded fund to focus solely on American cannabis companies and multi-state operations (MSOs), or companies directly involved in the legal production and distribution of cannabis. 

The fund’s inflows are a sign of growing investor interest in the cannabis space amid speculation that the Biden administration will keep its campaign promises and decriminalize marijuana. Some Democrats in Congress have pushed even further, advocating for the full legalization of cannabis in the US. 

“There’s a lot of excitement surrounding the cannabis investment space right now and for a variety of reasons,” said Dan Ahrens, AdvisorShares’ chief operating officer and portfolio manager of MSOS. “We firmly believe that the U.S. cannabis market provides a compelling long-term investment opportunity that clearly differentiates itself from other areas of the globe.” 

Other cannabis ETFs have also  performed well in 2021. Even after shedding gains from earlier this month, the ETFMG Alternative Harvest ETF is up 63% year-to-date, while the Amplify Seymour Cannabis ETF is up 81% year-to-date.

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Source:: Business Insider

      

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