Cannabis Growth ETF
BUDX
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- United States of America
- IPO Date
- Sep 27, 2021
- Similar Companies
- Business
- Cannabis Growth ETF (BUDX) is an actively managed exchange-traded fund launched by Investment Managers Series Trust II and managed by Foothill Capital Management, LLC that provides focused exposure to global companies engaged in the legal cannabis, hemp, and CBD industries; it invests at least 80% of its net assets in exchange-traded equity securities of firms deriving significant revenue—at least 50% in many cases—from cannabis-related activities including cultivation equipment innovation, cultivation and retail operations, cannabidiol sales, pharmaceutical applications, consumption devices, and industrial hemp production; the fund targets growth and value stocks across diversified market capitalizations worldwide, selected based on long-term growth potential, price momentum, financial viability, branding, market exposure, and management experience, while benchmarking against the Cannabis World Index and S&P 500 Index. The ETF, which converted from the Cannabis Growth Fund (ticker: CANIX) mutual fund on September 27, 2021, following its initial formation on February 22, 2019, is domiciled in the United States with principal operations linked to Foothill Capital Management in Glendora, California. In a significant operational change, the fund announced its closure and liquidation, with the last trading day on April 25, 2022, and was officially listed as out of business as of April 29, 2022, due to challenges in the cannabis sector including low assets under management; prior to closure, it featured holdings updates such as the addition of High Tide Inc. shares, reflecting ongoing portfolio adjustments in cannabis services providers.