The Cannabis sector is smoking hot. The initial euphoria of legalization in Canada and multiple US state has pushed individual Marijuana focused companies to all time highs. Cambria Investment Management is capitalizing on this rush by launching a new exchange-traded fund: Cambria Cannabis ETF. The ETR trades on the Cboe under the aptly named ticker symbol “TOKE.”
Cambria claims to be the lowest cost Cannabis fund to date.
TOKE is our first thematic ETF, which we believe has the potential to be a long-term growth story characterized by structural and behavioral inefficiencies,” commented Meb Faber, Cambria co-founder and CIO.
Currently, according to their website, TOKE is quite small with only $2.5 million in assets.
According to the ETF description:
“The Fund will target investing in approximately 20 to 50 of the top companies with exposure to the broad cannabis industry based on Cambria’s determination as to their exposure to the industry. The Fund generally expects to invest in companies across a broad market capitalization spectrum of micro-, small-, and mid-capitalization stocks.”
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