Short Interest in AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Drops By 19.4%

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 24,346 shares, a decline of 19.4% from the March 15th total of 30,201 shares. Based on an average daily trading volume, of 35,022 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of YOLO. Jane Street Group LLC lifted its stake in AdvisorShares Pure Cannabis ETF by 23.8% in the second quarter. Jane Street Group LLC now owns 141,248 shares of the company’s stock worth $268,000 after purchasing an additional 27,153 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of AdvisorShares Pure Cannabis ETF by 316.0% in the third quarter. Wealthfront Advisers LLC now owns 415,951 shares of the company’s stock worth $1,468,000 after buying an additional 315,972 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of AdvisorShares Pure Cannabis ETF during the 3rd quarter worth approximately $818,000. CWM LLC purchased a new position in AdvisorShares Pure Cannabis ETF during the 4th quarter valued at $26,000. Finally, Geneos Wealth Management Inc. grew its position in AdvisorShares Pure Cannabis ETF by 1,252.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 50,860 shares of the company’s stock valued at $168,000 after acquiring an additional 47,100 shares during the last quarter.

AdvisorShares Pure Cannabis ETF Trading Up 1.7%

YOLO stock traded up $0.05 during midday trading on Friday, reaching $2.97. 29,724 shares of the company’s stock traded hands, compared to its average volume of 52,754. The stock’s 50-day moving average is $2.83 and its 200 day moving average is $3.09. The stock has a market cap of $34.81 million, a P/E ratio of 21.88 and a beta of 1.13. AdvisorShares Pure Cannabis ETF has a 52-week low of $1.66 and a 52-week high of $4.53.

About AdvisorShares Pure Cannabis ETF

The AdvisorShares Pure Cannabis ETF (YOLO) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed ETF that seeks long-term capital appreciation by investing in both domestic and foreign cannabis equities, as well as total return swaps of similar securities. YOLO was launched on Apr 17, 2019 and is managed by AdvisorShares.