AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading 11.8% Higher – Should You Buy?

Shares of AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) shot up 11.8% on Tuesday . The company traded as high as $6.00 and last traded at $5.9830. 6,886,517 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 8,279,050 shares. The stock had previously closed at $5.35.

AdvisorShares Pure US Cannabis ETF Trading Down 26.9%

The company’s 50-day moving average is $4.29 and its two-hundred day moving average is $3.87. The stock has a market capitalization of $920.74 million, a P/E ratio of 12.20 and a beta of 1.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Zuckerman Investment Group LLC raised its stake in shares of AdvisorShares Pure US Cannabis ETF by 7.0% during the first quarter. Zuckerman Investment Group LLC now owns 152,234 shares of the company’s stock valued at $397,000 after purchasing an additional 10,000 shares in the last quarter. MYDA Advisors LLC acquired a new position in AdvisorShares Pure US Cannabis ETF during the 1st quarter valued at about $130,000. Evergreen Capital Management LLC raised its position in shares of AdvisorShares Pure US Cannabis ETF by 65.0% during the 1st quarter. Evergreen Capital Management LLC now owns 120,040 shares of the company’s stock worth $313,000 after buying an additional 47,300 shares in the last quarter. Graham Capital Management L.P. lifted its stake in shares of AdvisorShares Pure US Cannabis ETF by 2,429.6% in the 1st quarter. Graham Capital Management L.P. now owns 1,176,253 shares of the company’s stock worth $3,070,000 after acquiring an additional 1,129,753 shares during the period. Finally, Heritage Oak Wealth Advisors LLC boosted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 23.2% in the second quarter. Heritage Oak Wealth Advisors LLC now owns 53,641 shares of the company’s stock valued at $129,000 after acquiring an additional 10,101 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.