AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Up 6% – Should You Buy?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) shot up 6% on Tuesday . The stock traded as high as $4.67 and last traded at $4.8120. 11,815,036 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 9,005,022 shares. The stock had previously closed at $4.54.

AdvisorShares Pure US Cannabis ETF Trading Up 5.6%

The business has a fifty day moving average of $4.26 and a 200-day moving average of $3.93. The firm has a market cap of $902.85 million, a PE ratio of 12.20 and a beta of 1.20.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

Large investors have recently modified their holdings of the company. PFS Partners LLC boosted its holdings in AdvisorShares Pure US Cannabis ETF by 31.3% in the 3rd quarter. PFS Partners LLC now owns 8,380 shares of the company’s stock valued at $40,000 after purchasing an additional 2,000 shares during the period. Evergreen Capital Management LLC boosted its stake in AdvisorShares Pure US Cannabis ETF by 2.5% during the second quarter. Evergreen Capital Management LLC now owns 123,040 shares of the company’s stock valued at $297,000 after buying an additional 3,000 shares during the period. Geneos Wealth Management Inc. boosted its stake in AdvisorShares Pure US Cannabis ETF by 3.1% during the third quarter. Geneos Wealth Management Inc. now owns 116,814 shares of the company’s stock valued at $560,000 after buying an additional 3,500 shares during the period. Envestnet Asset Management Inc. grew its position in AdvisorShares Pure US Cannabis ETF by 18.3% during the second quarter. Envestnet Asset Management Inc. now owns 24,397 shares of the company’s stock worth $59,000 after buying an additional 3,777 shares in the last quarter. Finally, Black Maple Capital Management LP increased its stake in AdvisorShares Pure US Cannabis ETF by 12.5% in the 2nd quarter. Black Maple Capital Management LP now owns 45,000 shares of the company’s stock worth $108,000 after acquiring an additional 5,000 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.