A Marijuana ETF Is in the Right Spot

By Anonymous

The ETFMG Alternative Harvest fund has surged in recent weeks as marijuana-related stocks have rallied

As marijuana-related stocks rally, the only U.S.-listed ETF focused on the industry, ETFMG Alternative Harvest (MJ), has surged in recent weeks. At the end of September, the fund was up 59% from its low for the year in mid-August and had gained 23% so far this year.

Todd Rosenbluth, director of ETF and mutual-fund research at financial-research firm CFRA, says that while marijuana stocks in general have performed well in recent months, this ETF stands out for providing diversified exposure to the sector.