AdvisorShares Trust has disclosed a 6.26% ownership stake in Trulieve Cannabis Corp., according to a Schedule 13G filing submitted today with the U.S. Securities and Exchange Commission.
The filing shows that AdvisorShares beneficially owns 10,641,152 subordinate voting shares of Trulieve. The disclosure is tied to a June 30 event date and lists AdvisorShares as having sole voting and dispositive power over the full amount of shares.
AdvisorShares, a Delaware-based investment company, said in the filing that the shares were acquired and are held in the “ordinary course of business” and were not obtained for the purpose of changing or influencing control of Trulieve.
The filing comes less than a month after Trulieve’s subordinate voting shares began trading on the New York Stock Exchange under the ticker symbol TRLV. The company announced in June that it had received approval to uplist to the NYSE, becoming the first U.S. marijuana operator to trade on a major U.S. exchange.
Trulieve’s NYSE listing followed a corporate restructuring that separated certain operations in markets serving both medical and recreational consumers, leaving its consolidated operations focused on state-licensed medical marijuana facilities. The company said at the time that its remaining consolidated operations included 206 medical marijuana dispensaries and 3.5 million square feet of production capacity registered with the DEA.
Trulieve CEO Kim Rivers said in June that the NYSE uplisting would help expand the company’s shareholder base, increase liquidity and raise awareness around medical marijuana.
