Global X Cannabis ETF
POTX
NASDAQ Global Market- -
USD
- -
- -
Capital Structure
FRC
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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
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- Sep 27, 2019
- CIK
- 0001432353
- Similar Companies
- Business
- Global X Cannabis ETF (POTX) is an exchange-traded fund that seeks to track the performance of the Cannabis Index, providing investors with targeted exposure to developed-market companies involved in the cannabis, hemp, and CBD industries. Launched on September 17, 2019, by Global X Management Company LLC, a subsidiary of Mirae Asset Global Investments, the ETF is headquartered in New York, NY, and was listed on the Nasdaq Global Market. It invests at least 80% of its assets in securities comprising the index, including common stocks, American Depositary Receipts (ADRs), and Global Depositary Receipts (GDRs) of companies operating across cannabis production, distribution, cultivation, pharmaceutical applications, and ancillary services such as hemp-based products and cannabidiol formulations; the fund employs a representative sampling technique to replicate index performance while focusing on growth and value stocks across diversified market capitalizations. Prior to its closure, POTX held a portfolio concentrated in leading cannabis firms, with top holdings including Innovative Industrial Properties Inc. (IIPR), SNDL Inc. (SNDL), OrganiGram Holdings Inc. (OGI), Intercure Ltd. (INCR), and Cronos Group Inc. (CRON), representing exposure primarily to North American and global operators in the sector; the fund's geographic allocation emphasized Canada and the United States, alongside other regions accounting for the majority of its diversified holdings. It targeted institutional and retail investors seeking thematic exposure to the evolving cannabis market, characterized by regulatory developments in medical and recreational applications, with an expense ratio of 0.51% and periodic dividend distributions yielding approximately 7% as of late 2023. In a significant strategic shift, Global X ETFs announced the liquidation of POTX and 18 other underperforming funds on January 19, 2024, as part of an ongoing review of its product lineup to align with client needs; trading was suspended on Nasdaq before the open on February 20, 2024, with final cash distributions of $5.1913 per share paid to shareholders on February 23, 2024. This operational closure followed challenging performance, including a 52.85% one-year return decline as of early 2024, amid broader cannabis sector volatility, and no subsequent relaunch or replacement product has been identified under the Global X banner, though affiliated Global X Investments Canada Inc. continues to offer the related Global X Marijuana Life Sciences Index ETF (HMMJ).