AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading 4.6% Higher

Shares of AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) were up 4.6% during mid-day trading on Friday . The company traded as high as $6.45 and last traded at $6.43. Approximately 2,156,165 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 9,145,675 shares. The stock had previously closed at $6.15.

AdvisorShares Pure US Cannabis ETF Price Performance

The business’s 50 day simple moving average is $7.29 and its 200-day simple moving average is $8.29. The stock has a market capitalization of $748.71 million, a P/E ratio of 12.20 and a beta of 0.77.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Heritage Oak Wealth Advisors LLC bought a new stake in shares of AdvisorShares Pure US Cannabis ETF in the 2nd quarter valued at about $1,937,000. Truist Financial Corp grew its holdings in AdvisorShares Pure US Cannabis ETF by 8.3% during the second quarter. Truist Financial Corp now owns 37,728 shares of the company’s stock valued at $277,000 after purchasing an additional 2,906 shares during the period. Murchinson Ltd. bought a new stake in shares of AdvisorShares Pure US Cannabis ETF in the 2nd quarter valued at $11,721,000. Lighthouse Investment Partners LLC raised its stake in AdvisorShares Pure US Cannabis ETF by 10.3% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 587,067 shares of the company’s stock worth $4,303,000 after buying an additional 55,000 shares during the period. Finally, Millennium Management LLC lifted its holdings in AdvisorShares Pure US Cannabis ETF by 5.2% during the second quarter. Millennium Management LLC now owns 694,881 shares of the company’s stock worth $5,093,000 after acquiring an additional 34,147 shares in the last quarter.

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.