AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Up 6.7% – Here’s What Happened

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s share price rose 6.7% on Tuesday . The company traded as high as $3.93 and last traded at $3.81. Approximately 9,766,582 shares changed hands during trading, an increase of 0% from the average daily volume of 9,761,991 shares. The stock had previously closed at $3.57.

AdvisorShares Pure US Cannabis ETF Trading Up 6.3 %

The stock has a market cap of $469.40 million, a PE ratio of 12.20 and a beta of 0.77. The business’s 50-day moving average price is $4.74 and its 200-day moving average price is $6.30.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Murchinson Ltd. acquired a new position in AdvisorShares Pure US Cannabis ETF in the second quarter valued at approximately $11,721,000. 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. Heritage Oak Wealth Advisors LLC purchased a new position in shares of AdvisorShares Pure US Cannabis ETF in the 2nd quarter valued at about $1,937,000. Commonwealth Equity Services LLC raised its stake in shares of AdvisorShares Pure US Cannabis ETF by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 218,084 shares of the company’s stock worth $1,599,000 after buying an additional 6,758 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of AdvisorShares Pure US Cannabis ETF in the second quarter worth approximately $79,000.

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.