AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Sees Large Increase in Short Interest

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 173,490 shares, a growth of 59.5% from the August 31st total of 108,803 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 31,433 shares, the days-to-cover ratio is currently 5.5 days.

AdvisorShares Pure Cannabis ETF Trading Down 6.1%

YOLO stock traded down $0.19 during trading on Wednesday, hitting $2.91. 20,212 shares of the stock traded hands, compared to its average volume of 45,001. The stock has a market cap of $33.49 million, a price-to-earnings ratio of 21.88 and a beta of 1.31. AdvisorShares Pure Cannabis ETF has a one year low of $2.39 and a one year high of $4.53. The company has a 50 day simple moving average of $2.91 and a 200 day simple moving average of $2.89.

Institutional Investors Weigh In On AdvisorShares Pure Cannabis ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Heritage Oak Wealth Advisors LLC raised its position in AdvisorShares Pure Cannabis ETF by 5.2% in the 1st quarter. Heritage Oak Wealth Advisors LLC now owns 626,886 shares of the company’s stock valued at $1,649,000 after purchasing an additional 31,218 shares during the last quarter. Sankala Group LLC acquired a new position in AdvisorShares Pure Cannabis ETF in the fourth quarter worth $40,000. Finally, Kingsbury Capital Investment Advisors LLC bought a new stake in shares of AdvisorShares Pure Cannabis ETF during the second quarter worth $30,000.

AdvisorShares Pure Cannabis ETF Company Profile

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.