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New Cannabis ETF rolls out on the NYSE Arca
The AdvisorShares Poseidon Dynamic Cannabis ETF invests in the cannabis industry and its subsectors.
By Rony Abboud
0
- Cannabis
- AdvisorShares
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New "Weed" ETF joined the "420" family and rolled out on the NYSE Arca on Wednesday, November 17. The AdvisorShares Poseidon Dynamic Cannabis ETF or PSDN is AdvisorShares's third Cannabis ETF. It is an actively managed global equity ETF investing in the cannabis industry and its subsectors. The management may also apply leverage to add greater exposure to specific cannabis companies that they think have a higher upside.
In terms of country exposure, the United States (31.4%) has the lion's share, followed by Canada (12.5%) and Israel (2.4%). Top holdings include Green Thumb Industries (Swap, 12.01%), Ayr Wellness (8.52%), Verano Holdings (Swap, 8.09%), Truelieve Cannabis (Swap, 8.07%) and Ascend Wellness Holdings (Swap 7.73%), among other.
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Since it began trading on Wednesday, PSDN's share price dropped by 7%.
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