AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading 15.6% Higher – Here’s Why

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s stock price were up 15.6% during trading on Tuesday . The company traded as high as $4.75 and last traded at $4.68. Approximately 21,746,998 shares changed hands during trading, an increase of 129% from the average daily volume of 9,482,199 shares. The stock had previously closed at $4.05.

AdvisorShares Pure US Cannabis ETF Stock Performance

The firm’s fifty day simple moving average is $6.81 and its 200 day simple moving average is $7.45. The stock has a market capitalization of $547.05 million, a P/E ratio of 12.20 and a beta of 0.77.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Jane Street Group LLC raised its holdings in shares of AdvisorShares Pure US Cannabis ETF by 57.3% in the 1st quarter. Jane Street Group LLC now owns 6,059,388 shares of the company’s stock valued at $60,654,000 after acquiring an additional 2,206,686 shares in the last quarter. Murchinson Ltd. bought a new stake in shares of AdvisorShares Pure US Cannabis ETF in the 2nd quarter worth approximately $11,721,000. JW Asset Management LLC lifted its stake in shares of AdvisorShares Pure US Cannabis ETF by 31.4% in the 3rd quarter. JW Asset Management LLC now owns 1,093,369 shares of the company’s stock valued at $7,839,000 after purchasing an additional 261,086 shares during the period. Millennium Management LLC lifted its stake in shares of AdvisorShares Pure US Cannabis ETF by 5.2% in the 2nd quarter. Millennium Management LLC now owns 694,881 shares of the company’s stock valued at $5,093,000 after purchasing an additional 34,147 shares during the period. Finally, Lighthouse Investment Partners LLC raised its stake in AdvisorShares Pure US Cannabis ETF by 10.3% during the second quarter. Lighthouse Investment Partners LLC now owns 587,067 shares of the company’s stock valued at $4,303,000 after buying an additional 55,000 shares during the last quarter.

AdvisorShares Pure US Cannabis ETF Company Profile

The AdvisorShares Pure US Cannabis ETF (MSOS) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed narrow portfolio of US stocks or swap contracts related to the domestic cannabis and hemp industry. MSOS was launched on Sep 1, 2020 and is managed by AdvisorShares.