It’s the firm’s second dedicated cannabis investment strategy after AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO), which launched on April 18, 2019.
The new ETF trades under the symbol “MSOS” and will include multi-state operators in its holdings; MSOs are U.S. companies directly involved in the legal production and distribution of cannabis in states where approved.
“We believe that the U.S. clearly represents the most attractive opportunity for cannabis investment and remains an exponentially larger market than the Canadian cannabis market,” said MSOS portfolio manager Dan Ahren, AdvisorShares chief operating officer.
MSOS seeks long-term capital appreciation by investing entirely in legal, domestic cannabis equity securities, the company said.
The ETF’s annual operating expenses after fee waiver/expense reimbursement is 0.74%, according to MSOS’s prospectus.
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