Marijuana Investment Fund Poseidon Launches New Cannabis ETF

Poseidon Investment Management, one of the longest-running dedicated cannabis investment funds, announced Wednesday the launch of the AdvisorShares Poseidon Dynamic Cannabis ETF PSDN. PSDN, which will begin trading on Wednesday, November 17, 2021, is sponsored by AdvisorShares and will be sub-advised and managed by the Poseidon team, including co-founders and managing directors Emily Paxhia and Morgan Paxhia and managing director Tyler Greif.

The fund will seek to identify companies strategically positioned to benefit from the cannabis industry and its supporting infrastructure in the U.S. as well as emerging global cannabis markets. PSDN's portfolio is diversified across subsectors of the cannabis industry and dynamically managed to tactically overweight or underweight specific countries, subsectors or individual companies. The new ETF may seek to take advantage of specific market opportunities by intelligently using leverage to maximize potential returns.

"Poseidon was one of the first investment firms dedicated to cannabis investments, navigating this complex and evolving industry to help companies grow and thrive from startups to public companies," said Emily Paxhia, who is also Poseidon's portfolio manager. "Our track record speaks to our deep knowledge of the space and our commitment to understanding the needs of the companies we invest in. PSDN broadens the reach of our unique investment philosophy and provides simple, secure, accessible investing into one of the world's most exciting asset classes."

PSDN joins the AdvisorShares Pure US Cannabis ETF MSOS and the AdvisorShares Pure Cannabis ETF YOLO as dedicated cannabis investment strategies within the AdvisorShares ETF suite.

"We are excited to partner with an established and experienced team like Poseidon to bring their institutional portfolio management approach into the mainstream investment infrastructure," Noah Hamman, CEO of AdvisorShares said in a statement. "Active ETFs in the cannabis space continue to gain traction with investors seeking to access managers with proven success records in the fast-growing, dynamic industry."

Photo: Courtesy of Esteban Lopez on Unsplash