NewLake Capital Partners (OTCMKTS:NLCP) Stock Falls 3.7% – Time to Sell?

NewLake Capital Partners, Inc. (OTCMKTS:NLCP) was down 3.7% during trading on Monday. The stock traded as low as $13.25 and last traded at $13.26. 132,884 shares changed hands during trading, an increase of 54% from the average daily volume of 86,564 shares. The stock had previously closed at $13.77.

NewLake Capital Partners Trading Down 0.1%

The company has a fifty day moving average price of $15.02 and a 200 day moving average price of $15.07.

Hedge Funds Weigh In On NewLake Capital Partners

A hedge fund recently bought a new position in NewLake Capital Partners stock. Compass Financial Management LLC purchased a new position in NewLake Capital Partners, Inc. (OTCMKTS:NLCP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 81,629 shares of the company’s stock, valued at approximately $1,303,000.

NewLake Capital Partners Company Profile

NewLake Capital Partners, Inc is a real estate investment company focused on the regulated cannabis industry. Structured as a real estate investment trust, the company acquires, develops, and owns specialized properties that are leased to state-licensed cannabis operators.

Its properties generally support cannabis cultivation, processing, manufacturing, and retail operations. NewLake typically provides operators with real estate tailored to their business needs while generating rental income through long-term leases.