AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Sees Strong Trading Volume – Here’s Why

Shares of AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) saw an uptick in trading volume on Wednesday . 30,086 shares changed hands during trading, a decline of 33% from the previous session’s volume of 45,077 shares.The stock last traded at $2.99 and had previously closed at $3.05.

AdvisorShares Pure Cannabis ETF Stock Down 1.3%

The stock has a market capitalization of $358.79 billion, a price-to-earnings ratio of 21.88 and a beta of 1.31. The business’s 50 day simple moving average is $2.82 and its 200-day simple moving average is $2.87.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kingsbury Capital Investment Advisors LLC acquired a new stake in AdvisorShares Pure Cannabis ETF in the second quarter valued at about $30,000. Sankala Group LLC acquired a new position in AdvisorShares Pure Cannabis ETF during the fourth quarter worth about $40,000. Advisory Alpha LLC acquired a new position in AdvisorShares Pure Cannabis ETF during the fourth quarter worth about $57,000. Finally, Heritage Oak Wealth Advisors LLC lifted its holdings in shares of AdvisorShares Pure Cannabis ETF by 5.2% in the first quarter. Heritage Oak Wealth Advisors LLC now owns 626,886 shares of the company’s stock worth $1,649,000 after acquiring an additional 31,218 shares during the last quarter.

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.