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

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) were up 15.6% during mid-day trading on Tuesday . The stock traded as high as $4.75 and last traded at $4.68. Approximately 21,746,998 shares changed hands during mid-day 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 Price Performance

The firm has a market capitalization of $547.05 million, a price-to-earnings ratio of 12.20 and a beta of 0.77. The firm has a 50 day moving average price of $6.81 and a 200-day moving average price of $7.45.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JW Asset Management LLC increased its holdings in 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 in the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in AdvisorShares Pure US Cannabis ETF in the 3rd quarter worth approximately $163,000. Horrell Capital Management Inc. lifted its stake in shares of AdvisorShares Pure US Cannabis ETF by 29.2% in the 3rd quarter. Horrell Capital Management Inc. now owns 27,269 shares of the company’s stock valued at $196,000 after purchasing an additional 6,162 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in AdvisorShares Pure US Cannabis ETF in the 3rd quarter worth $83,000. Finally, Clear Harbor Asset Management LLC increased its holdings in shares of AdvisorShares Pure US Cannabis ETF by 26.7% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 28,500 shares of the company’s stock worth $204,000 after purchasing an additional 6,000 shares during the period.

About AdvisorShares Pure US Cannabis ETF

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.