“And apparently, millennials who use the RobinHood free stock-trading app have taken this advice to heart. According to Business Insider, shares of Aurora Cannabis, the Canadian cannabis producer, are now more popular among the app’s (mostly millennial) users than Apple,” reports ZeroHedge.
Auro Cannabis is MJ’s third-largest holding. Though it is the dominant cannabis ETF in the U.S., MJ has some competition, including the actively managed AdvisorShares Vice ETF (NasdaqGM: ACT), which includes a smaller tilt toward the industry.
While not solely targeting the cannabis industry, the AdvisorShares Vice ETF includes companies that derive at least 50% of their net revenue from the marijuana and hemp industry or have at least 50% of their company assets dedicated to lawful research and development of cannabis or cannabinoid-related products.
Investors have added $113.56 million to MJ this year.
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