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Cannabis ETF (The)
Ticker Symbol: THCX CUSIP: 84858T400 Exchange: NYSEA
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QUANTUMONLINE.COM SECURITY DESCRIPTION: The Cannabis ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Spinnaker ETF Series, an open-end investment management company. INVESTMENT OBJECTIVE: The Cannabis ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Innovation Labs Cannabis Index. INDEX DESCRIPTION: The Innovation Labs Cannabis Index is a proprietary, rules-based index designed to track the performance of a portfolio of Cannabis Companies. These Cannabis Companies are primarily located in the United States and Canada, but may be located in other countries as well. The Index constituents consists of publicly listed Cannabis Companies that are involved in the legal cannabis industry. Legal refers to being permitted under the applicable (i) controlled substance or (ii) food, drug, and cosmetics, or equivalent laws and regulations under whose jurisdiction the Cannabis Company is subject that govern the cultivation, production or distribution, for medical or non-medical purposes, of cannabis in a particular country. Cannabis Companies that have a business interest in the legal hemp-based pharmaceutical and consumer wellness & product markets within the United States are companies that have business interests in hemp. The Index is rebalanced and reconstituted monthly. FUND STRATEGY: The Fund will invest at least 80% of its total assets in the component securities of the Index. The Fund uses a passive or indexing approach to try to achieve its investment objective. Unlike many investment companies, the Fund does not try to beat the Index and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will also invest, under normal circumstances, at least 80% in exchange listed common stock (or corresponding American Depositary Receipts (ADRs) of Cannabis Companies. The Fund will use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the Index in approximately the same proportions as in the Index. However, the Fund may utilize a representative sampling strategy with respect to the Index when a replication strategy might be detrimental to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to follow the Index, in instances in which a security in the Index becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations (such as tax diversification requirements) that apply to the Fund but not the Index. FUND MANAGEMENT: OBP Capital, LLC, is the Advisor to the Fund. Merlin Capital, LLC, d/b/a Merlin Asset Management is the Sub-Advisor to the Fund.
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IPO - 6/19/2019 -
Link to IPO Prospectus
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 116 South Franklin Street, Rocky Mount, NC 27804 |
| Main Phone Number |
252-972-9922 |
| Fax Number |
252-442-4226 |
| Investor Relations
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800-773-3863
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| Toll Free Phone Number |
800-773-3863 |
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