PR from 8am on December 26:
"ETF Managers Group Announces MJX Live for Trading on the NYSE"
NYSE Arca Symbol = MJX
ETF web site
Shares outstanding = 200,000
Closing price on December 28 = $32.00
"Market capitalization" of ETF is therefore only $6.4 million
Another marijuana ETF (pending approval) is MEDA, which is mentioned in this article:
ETFDB search for marijuana ETFs:
ETFMG's CEO appeared on CNBC at about 1.45pm on January 2, to discuss MJX.
During and following the interview there was a surge in both the price and volume of MJX.
The volume for the day ended at 4.867 million shares, compared to 402,500 on December 27, 1.012 million on December 28, and 1.855 million on December 29.
Also interesting to note is the increase in the ETF's net assets in recent days.
On January 3, at 1.28am ET, the http://www.mjxetf.com/fund/#holding web site has the following data:
Shares outstanding = 1.4 million (likely a figure from Friday December 29).
Top two holdings as at January 2:
MJN.V 826,989 shares = 6.408 million USD (8.97%)
WEED.TO 197,045 shares = 4.662 million USD (6.53%)
Therefore the net assets as at January 2 has likely increased to about $71.40 million.
(calculated as 6.408 million / 0.0897)
This compares to the figure of $45.441 million on the web site, which is likely a figure from December 29.
Assuming the January 2 close of $35.57 is the NAV of the fund, the shares outstanding has probably increased to:
71.40 million / 35.57 = 2.00 million shares.
This is an increase of 2.00 million - 1.40 million = 600,000 shares
Estimate of shares of MJN.V purchased on January 2:
600,000 new shares in ETF.
NAV from December 29 = $32.46
600,000 * $32.46 = $19.476 million
Of this amount, MJN is 8.97%
$19.476 million * 0.0897 = $1.74 million
$1.74 million / $10.20 = 171,274 shares