Biggest marijuana ETF on TSX adds 9 new cannabis companies, including Tilray

The leading exchange traded fund for cannabis companies has added nine new marijuana producers to its holdings.

When it launched last year, the Horizons Marijuana Life Sciences ETFhad only a handful of stocks in it, including major producers such as Canopy Growth and Aurora Cannabis, along with fertilizer maker Scott's Miracle Grow.

But four times a year, the fund's managers add and remove companies to the fundto better replicate the marijuana investment index the fund is attempting to track.

Nine new names have just been added to the fund, bringing the total to 49 different companies.

The new onesare:

• Aleafia Health Inc.
• Choom Holdings Inc.
• Eve & Co. Inc.
• GTEC Holdings Ltd.
• FSD Pharma Inc.
• James E. Wagner Cultivation Corp.
• Namaste Technologies Inc.
• INDIVA Ltd.
• TilrayInc.

The biggest name in the bunch is likely Tilray, the Nanaimo-based medical marijuana supplier that has seen its value skyrocket since its IPO in July. At one point earlier this month,Tilray was brieflythe most valuable pot company in the world despite having a fraction of the revenue or production of more established producers like Canopy, Aurora, AphriaInc. and others.

It's not known at what point the fund bought into Tilray or what price it paid, which is relevant because the company has been incredibly volatile of late. From an IPO price of $17 USin July, Tilraybriefly topped $300 last week before plunging back down to earth. In Wednesday trading, Tilraywas changing hands at $111 US a share.

Just over seven per cent of the fund is currently invested in Tilray, filings show. The four biggest holdings are Canopy Growth Corp., Aurora Cannabis Inc., AphriaInc., Tilray and British drug firm GW Pharmaceuticals PLCwhosemain product is a multiple sclerosis treatment derived from cannabis callednabiximols.

Together, those fivecompanies make up more than half of the fund's value.

The fund is trading at just over $24 per unit on the TSXon Wednesday, down slightly on the day.