Home etfexpress.com ETFMG launches 2x daily inverse cannabis ETF

ETFMG launches 2x daily inverse cannabis ETF

US-based thematic ETF issuer, ETF Managers Group LLC has launched the ETFMG 2x Daily Inverse Alternative Harvest ETF (NYSE Arca: MJIN) which will begin trading on the New York Stock Exchange. 

MJIN is designed to seek daily leveraged investment results, before fees and expenses, of two times the inverse (-2x) (or opposite) of the performance of the Prime Alternative Harvest Index, providing investors access to the global cannabis ecosystem and benefiting directly from widespread medicinal and recreational legalisation initiatives. 
“The launch of MJIN marks another first-to-market for ETFMG and rounds out our full suite of cannabis investment offerings,” says Sam Masucci, CEO and Founder of ETFMG. “We are a one-stop-shop for investors looking to capitalise on the global and U.S. cannabis sectors.” 

MJIN is ETFMG’s fourth cannabis ETF, joining MJ, the first U.S. listed and world’s largest cannabis ETF, MJUS, providing access to top names in U.S. cannabis, including multi-state operators (MSOs) and MJXL, providing 2x daily the performance of the Prime Alternative Harvest Index. The Fund also adds to the firm’s suite of 2x Daily Leveraged ETFs, structured to give investors short-term, magnified exposure to high-growth themes already offered by ETFMG.  

“Investor interest in the cannabis sector has continued to increase as the industry has expanded on the back of strong fundamentals and the growing prospect of legislative reform. While most investors are primarily focused on capturing the long-term potential of the cannabis industry, many have been seeking a short-term trading vehicle to help hedge, from time to time, the downside volatility that can come along with investing in an emerging sector. As the cannabis industry continues to expand and diversify, so should its related investment options. It’s a privilege to be able to provide cannabis investors with a full suite of investment options, including the ability to achieve either long or short exposure to the sector,” says Jason Wilson, ETFMG’s Cannabis Research and Banking Expert. 

“We are proud to expand our relationship with ETFMG as it launches yet another essential investment product for the cannabis industry,” says Kris Monaco, Managing Partner and Co-Founder of Prime Indexes. “ETFMG’s new fund reinforces the Prime Alternative Harvest index as the key benchmark for investors in an industry that is still in its infancy.” 

The Fund seeks the daily investment results, before fees and expenses of -200 per cent of the performance of the Prime Alternative Harvest Index. This Fund does not seek to achieve its stated investment objective over a period of time greater than a single day. ETFMG recommends that prospective investors seek the advice of an investment professional before making an investment in ETFMG 2x Daily Leveraged ETFs.  

The possession and use of marijuana, even for medical purposes, is illegal under federal and certain states’ laws.  

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