AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Trading 5.7% Higher – Should You Buy?

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) shares rose 5.7% during trading on Thursday . The stock traded as high as $3.19 and last traded at $3.14. Approximately 32,192 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 53,843 shares. The stock had previously closed at $2.97.

AdvisorShares Pure Cannabis ETF Price Performance

The firm has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $3.02. The company has a market capitalization of $36.80 million, a price-to-earnings ratio of 21.88 and a beta of 1.28.

Hedge Funds Weigh In On AdvisorShares Pure Cannabis ETF

A number of large investors have recently added to or reduced their stakes in the stock. CWM LLC acquired a new position in AdvisorShares Pure Cannabis ETF during the fourth quarter worth $26,000. LPL Financial LLC raised its position in AdvisorShares Pure Cannabis ETF by 11.4% during the fourth quarter. LPL Financial LLC now owns 103,057 shares of the company’s stock worth $340,000 after acquiring an additional 10,582 shares during the period. Sankala Group LLC acquired a new position in AdvisorShares Pure Cannabis ETF during the fourth quarter worth $40,000. Advisory Alpha LLC acquired a new position in AdvisorShares Pure Cannabis ETF during the fourth quarter worth $57,000. Finally, Jane Street Group LLC raised its position in AdvisorShares Pure Cannabis ETF by 23.8% during the second quarter. Jane Street Group LLC now owns 141,248 shares of the company’s stock worth $268,000 after acquiring an additional 27,153 shares during the period.

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.