US-Focused Cannabis ETF Debuts
A new ETF that includes only U.S. firms operating in the legal cannabis market made its first appearance on Wednesday.
Headquartered in Raleigh, NC Fiscal year ends December NASDAQ: ACT enactmi.com
Enact Holdings, Inc. (Nasdaq: ACT) is a U.S. private mortgage insurance provider operating principally through its wholly owned subsidiary Enact Mortgage Insurance Corporation (EMICO), which has been in operation since 1981. The company partners with mortgage lenders to provide private mortgage insurance (PMI) that enables borrowers to purchase homes with lower down payments. Enact's business model centers on underwriting mortgage credit risk, earning premium income on its $274 billion portfolio of primary insurance in-force, and generating investment income from its $6.2 billion investment portfolio. The company manages risk through a combination of insurance-linked notes, excess-of-loss reinsurance, and quota share reinsurance transactions with panels of U.S. and global reinsurers. Enact's insured portfolio is predominantly composed of purchase mortgage originations with monthly premium payment structures and high credit quality borrowers (weighted average FICO score of 746). The company is subject to Private Mortgage Insurer Eligibility Requirements (PMIERs) established by Fannie Mae and Freddie Mac and maintains substantial capital above regulatory minimums. Updated
A new ETF that includes only U.S. firms operating in the legal cannabis market made its first appearance on Wednesday.
Many investors are focused on getting the jump on the cannabis industry, but they aren’t alone. With this increased speculation, there is added risk that has to be considered.
The ETF universe includes a variety of funds that allow investors to share in the spoils of legal gambling, smoking (tobacco and marijuana), and beer and spirits consumption. Investing in sin can…
With evolving societal and regulatory landscapes, the upside potential of cannabis as a new investment strategy has emerged. Investors can use a number of ETFs to invest in the future of cannabis.
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Enact Holdings, Inc. (Nasdaq: ACT) is a U.S. private mortgage insurance provider operating principally through its wholly owned subsidiary Enact Mortgage Insurance Corporation (EMICO), which has been in operation since 1981.
24/7 Wall St.'s 12-month price target for ACT is $55.84, rated Buy. The Wall Street consensus target is $50.20. ACT price prediction →