AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Down 5.2% – Here’s Why

Shares of AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) traded down 5.2% on Monday . The stock traded as low as $4.68 and last traded at $4.6250. 6,863,685 shares traded hands during trading, a decline of 23% from the average session volume of 8,948,276 shares. The stock had previously closed at $4.88.

AdvisorShares Pure US Cannabis ETF Stock Down 6.8%

The firm has a market capitalization of $855.97 million, a price-to-earnings ratio of 12.20 and a beta of 1.20. The firm has a 50 day moving average of $4.28 and a two-hundred day moving average of $3.92.

Institutional Trading of AdvisorShares Pure US Cannabis ETF

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