PSDN will provide public access to an exciting asset class with support from accomplished institutional investment managers in the cannabis space

PSDN will provide public access to an exciting asset class with support from accomplished institutional investment managers in the cannabis space

SAN FRANCISCONov. 17, 2021 /PRNewswire/ — Poseidon Investment Management, a leading investment firm in the cannabis industry with $196M in assets under management as of August 2021, today announced the launch of the AdvisorShares Poseidon Dynamic Cannabis ETF (Ticker: PSDN). PSDN, which will begin trading on Wednesday, November 17, 2021, is sponsored by AdvisorShares and will be sub-advised and managed by the Poseidon team, including co-founders and Managing Directors Emily Paxhia and Morgan Paxhia and Managing Director Tyler Greif.

The fund will seek to identify companies strategically positioned to benefit from the cannabis industry and its supporting infrastructure in the U.S. and emerging global cannabis markets. PSDN’s portfolio is diversified across subsectors of the cannabis industry and dynamically managed to tactically overweight or underweight specific countries, subsectors, or individual companies. PSDN may seek to take advantage of specific market opportunities by intelligently using leverage to maximize potential returns.

“Poseidon was one of the first investment firms dedicated to cannabis investments, navigating this complex and evolving industry to help companies grow and thrive from startups to public companies,” said Emily Paxhia, co-founder and Managing Director of Poseidon, and Portfolio Manager of PSDN. “Our track record speaks to our deep knowledge of the space and our commitment to understanding the needs of the companies we invest in. PSDN broadens the reach of our unique investment philosophy and provides simple, secure, accessible investing into one of the world’s most exciting asset classes.”

“We are excited to partner with an established and experienced team like Poseidon to bring their institutional portfolio management approach into the mainstream investment infrastructure,” said Noah Hamman, chief executive officer of AdvisorShares. “Active ETFs in the cannabis space continue to gain traction with investors seeking to access managers with proven success records in the fast-growing, dynamic industry.”

PSDN joins the AdvisorShares Pure US Cannabis ETF (Ticker: MSOS) and the AdvisorShares Pure Cannabis ETF (Ticker: YOLO) as dedicated cannabis investment strategies within the AdvisorShares ETF suite. For more information on PSDN, visit: advisorshares.com/etfs/psdn.

About Poseidon
Poseidon is a leading investor in the legal cannabis and hemp industries with $196 million in assets under management as of August 2021. Poseidon and its affiliates have been active cannabis investors since 2013, the Poseidon team has collectively raised seven cannabis-specific funds and deployed capital into nearly 200 businesses across various stages and verticals globally. For more information, visit https://www.poseidonassetmanagement.com/.

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