Cannabis ETF Changes: Amplify ETFs Revamp Funds To Boost US Exposure
Amplify ETFs announced the realignment of its cannabis ETFs to provide investors with dynamic exposure to the cannabis industry.
On Jan. 28, the Amplify Seymour Cannabis ETF (NYSE:CNBS) will change its investment policy to invest in securities of U.S. companies engaged in cannabis and hemp-related activities. In addition, the Amplify Alternative Harvest ETF (NYSE:MJ) will allocate to CNBS to gain exposure to U.S. cannabis companies following an index methodology change, according to company press release.
The move, per the company, reflects Amplify ETFs’ commitment to refining its product suite for investors. Through the changes, MJ will continue to offer access to the global cannabis industry, now gaining its U.S. exposure through an allocation to CNBS within the index.
“The cannabis industry is an evolving market, and we recognized an exceptional opportunity to leverage the expertise of one of its foremost authorities, Tim Seymour. By doing so, we’ve positioned ourselves to enhance …