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MJX (ETFMG Alternative Harvest ETF) marijuana ETF

  1. PR from 8am on December 26:
    "ETF Managers Group Announces MJX Live for Trading on the NYSE"

    https://www.businesswire.com/news/h...ETF-Managers-Group-Announces-MJX-Live-Trading

    NYSE Arca Symbol = MJX
    https://finance.yahoo.com/quotes/mjx/view/v1

    ETF web site
    http://www.mjxetf.com/fund/

    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:
    https://finance.yahoo.com/news/rush-marijuana-etfs-getting-stronger-192707289.html

    ETFDB search for marijuana ETFs:
    http://etfdb.com/stock/insy/

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  2. 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.
    https://finance.yahoo.com/quote/MJX/history?p=MJX

    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%)

    Net assets:
    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.

    Shares outstanding:

    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

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  3. http://www.mjxetf.com/fund/

    2018 January 7 Sunday 10:57:00 AM

    Shares outstanding 7,500,000
    Net assets 272,911,423
    NAV 36.39

    Increase in net assets since Tuesday January 2 = (272.9 million - 71.4 million)
    = 201.5 million USD

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