Cannabis investing’s latest bet: A new marijuana ETF with the ticker YOLO

You only live once, but when it comes to cannabis, your investing options are seemingly endless.

Case in point: Last week saw the debut of a new marijuana-themed exchange-traded fund called the AdvisorShares Pure Cannabis ETF, an actively managed fund with nearly $2.5 million assets under management. Trading under the ticker YOLO, the ETF is backed by BNY Mellon and holds shares of Canadian growers like Aurora Cannabis and Canopy Growth.

A few things about this particular fund set it apart from its 3-year-old counterpart, the ETFMG Alternative Harvest ETF, ticker MJ. First, it’s actively managed, which means that it aims to outperform the broader cannabis space with the help of a professional money manager. Second, it’s bank-backed, which lends credibility.

“The previous fund here, MJ, had to kind of do a bit of an end-around”

... read more at: https://www.cnbc.com/2019/04/23/cannabis-etf-with-ticker-yolo-offers-new-way-to-play-pot-stocks.html