AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Gap Up – Time to Buy?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) gapped up prior to trading on Thursday . The stock had previously closed at $5.11, but opened at $5.58. AdvisorShares Pure US Cannabis ETF shares last traded at $4.86, with a volume of 15,852,038 shares trading hands.

AdvisorShares Pure US Cannabis ETF Stock Performance

The company has a market capitalization of $956.78 million, a P/E ratio of 12.20 and a beta of 1.07. The business’s fifty day simple moving average is $3.86 and its 200-day simple moving average is $4.23.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

A number of institutional investors and hedge funds have recently made changes to their positions in MSOS. Raymond James Financial Inc. purchased a new position in shares of AdvisorShares Pure US Cannabis ETF in the 2nd quarter worth $30,000. apricus wealth LLC purchased a new position in shares of AdvisorShares Pure US Cannabis ETF in the 1st quarter worth $36,000. Kestra Advisory Services LLC purchased a new position in shares of AdvisorShares Pure US Cannabis ETF in the 4th quarter worth $36,000. PFS Partners LLC grew its stake in shares of 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 worth $40,000 after buying an additional 2,000 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new position in shares of AdvisorShares Pure US Cannabis ETF in the 4th quarter worth $48,000.

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.