TORONTO--(BUSINESS WIRE)--With much excitement, NEO proudly welcomes Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) back to the NEO Exchange, with the launch of the world’s first-ever psychedelics-focused exchange traded fund. The Horizons Psychedelic Stock Index ETF began trading today under the symbol NEO:PSYK.
With a growing number of companies across North America focused on developing therapeutic solutions using psychedelics to treat mental illness, addiction, and other medical conditions, Horizons ETFs is paving the way for investors to access the industry like never before. The Horizons Psychedelic Stock Index ETF contains 17 Canadian and U.S. publicly-listed life sciences companies that have significant business activities in, or significant exposure to, the psychedelics industry - including two NEO-listed companies.
“At Horizons ETFs, we strive to be at the forefront of key global transformative investment themes. We believe the opportunities with psychedelics not only provide a compelling investment case, but also the potential to provide life-changing impacts for those suffering with mental illness,” commented Steve Hawkins, President and CEO of Horizons ETFs. “We are happy to be partnering with the NEO Exchange on our launch of PSYK, the world’s first psychedelic stock ETF. NEO has already taken a leadership position in being the first senior exchange to list psychedelic-focused equities, so the NEO Exchange was a natural fit for Horizons ETFs and PSYK. PSYK will give investors diversified exposure to the leading public companies undertaking this important research and the development of treatments for the more than 700 million people globally that, according to the World Health Organization, suffer from some form of mental illness, addiction, or eating disorder.”
The Horizons Psychedelic Stock Index ETF joins another Horizons ETF already listed on the NEO Exchange: the Horizons US Marijuana Index ETF (NEO:HMUS). Investors can trade shares of PSYK and HMUS through their usual investment channels, including discount brokerage platforms and full-service dealers. Click here for a complete view of all NEO-listed securities.
“The unprecedented interest in the Horizons Psychedelic Stock Index ETF – even prior to launch – is a testament to the growing acceptance, credibility, and progress that the psychedelics industry and companies within it have achieved over the past few years,” commented Jos Schmitt, President and CEO of NEO. “With the listing of MindMed and Cybin on the NEO Exchange in 2020 – two major holdings in the PSYK fund - NEO prides itself on being an advocate and catalyst for the continued growth of the psychedelics space. We are thrilled to partner with the team of financial visionaries at Horizons ETFs as we work together, once again, on forming the future of investments.”
NEO consistently represents roughly 20% of all volume traded in Canadian ETFs and close to 15% of all trading in Canadian-listed companies.
About NEO Exchange
NEO Exchange is a progressive stock exchange that brings together investors and capital raisers within a fair, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading all Canadian-listed securities on a level playing field. The NEO Exchange lists senior companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
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About Horizons ETFs Management (Canada) Inc.
Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has over $17 billion of assets under management and 94 ETFs listed on major Canadian stock exchanges. For further information about PSYK, please visit: www.HorizonsETFs.com/PSYK
Connect with Horizons: Website | Twitter | LinkedIn | Instagram
