FYI: ETF Managers Group, issuer of the ETFMG Alternative Harvest ETF (MJ), the market's only pure-play marijuana fund, has replaced the fund's custodian, U.S. Bank, effective yesterday, Sept. 17.
According to an update to MJ's Statement of Additional Information (SAI), the new custodian for MJ is Wedbush Securities, a broker-dealer based in Los Angeles.
In addition, ETFMG will now take the fund's administrator duties in-house. Transfer agent services, meanwhile, will be handled by Canton, Massachusetts-based Computershare Trust Company.
Regards,
Ted
https://www.etf.com/sections/features-and-news/marijuana-etf-shifts-custody
