In a form that is recent filed with the U.S. Securities and Exchange Commission, Wayne, New Jersey-based investment advisory firm Hallmark Capital Management Inc. disclosed that it took a new position in multi-state cannabis operator Green Thumb Industries Inc. (CSE:GTII) (OTC:GTBIF).
According to Bloomberg, Hallmark Capital Management “provides portfolio construction, financial planning, and investment management services to individuals, trusts, investment companies, and pension plans,” with a primary focus on customers in the State of New Jersey.
Now that New Jersey voters have legalized recreational/adult-use cannabis, Green Thumb Industries is one of a few public companies set to benefit big since it is already licensed to operate one cultivation that is medical processing facility or over to three retail medical cannabis dispensaries in nj-new jersey because of its vertically built-in license.
With over $1.8 billion in assets under administration at the time of a recently available Form ADV, Hallmark Capital Management Inc.’s recent purchase of 9,000 stocks of Green Thumb Industries Inc. amounts to a small allocation that is little the firm. Regardless, it is a signal that is bullish institutional investors and cash supervisors like Hallmark Capital Management Inc. are purchasing stocks of GTBIF. As associated with close on Wednesday, February third, 2021, the 9,000 stocks had been well worth $288,000 USD.
We’ll continue observe 13F filings to see just what investors that are institutional up to. In the meantime, be sure to subscribe to updates here so you never miss an development that is important
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