In a Form 13F filed recently with the U.S. Securities and Exchange Commission on September 8th, 2021, Canfield, Ohio-based investment advisor and wealth manager J. Arnold Wealth Management disclosed that it took an initial stake a stake in the ETFMG Alternative Harvest ETF (NYSE:MJ), an exchange-traded-fund, a.k.a. ETF, focused on the rapidly-growing cannabis industry. According to the wealth manager's website, J. Arnold Wealth Management has been "helping clients pursue their individual financial goals" for over two decades. As an independent advisor, J. Arnold Wealth Management provides its clients with impartial and personalized investment advice based on experience, research, and more.
With an estimated over $200,000,000 in discretionary 13F assets under management as of a recent Form ADV, J. Arnold Wealth Management's recent purchase of 2,202 shares of MJ isn't a huge allocation of assets for the firm. That being said, it is a bullish signal that another institutional investors like J. Arnold Wealth Management is getting involved in cannabis investments through the diversified sector-focused ETF.
We'll continue to monitor 13F filings to see what institutional investors are up to. In the meantime, be sure to subscribe to updates here so you never miss an important update.
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