Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Climb 5.8% – Here’s What Happened

Amplify Alternative Harvest ETF (NYSEARCA:MJ) shares shot up 5.8% during mid-day trading on Tuesday. The company traded as high as $24.00 and last traded at $23.66. Approximately 29,106 shares changed hands during trading, a decline of 27% from the average daily volume of 40,042 shares. The stock had previously closed at $22.37.

Amplify Alternative Harvest ETF Price Performance

The firm has a market capitalization of $103.39 million, a price-to-earnings ratio of 16.86 and a beta of 1.15. The business has a 50 day moving average of $24.71 and a 200 day moving average of $25.22.

Hedge Funds Weigh In On Amplify Alternative Harvest ETF

A hedge fund recently bought a new position in Amplify Alternative Harvest ETF stock. Commonwealth Equity Services LLC purchased a new position in shares of Amplify Alternative Harvest ETF (NYSEARCA:MJ) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,431 shares of the company’s stock, valued at approximately $209,000. Commonwealth Equity Services LLC owned 0.19% of Amplify Alternative Harvest ETF as of its most recent SEC filing.

About Amplify Alternative Harvest ETF

The ETFMG Alternative Harvest ETF (MJ) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund tracks an index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products. The portfolio is weighted by market cap or equally based on a proprietary system. MJ was launched on Dec 2, 2015 and is managed by ETF Managers Group.