AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Up 6.9% – Here’s What Happened

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s share price were up 6.9% on Tuesday . The company traded as high as $4.63 and last traded at $4.7590. Approximately 1,086,521 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 8,984,375 shares. The stock had previously closed at $4.45.

AdvisorShares Pure US Cannabis ETF Price Performance

The company has a 50-day simple moving average of $4.23 and a 200-day simple moving average of $4.04. The stock has a market cap of $888.73 million, a PE ratio of 12.20 and a beta of 1.20.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

Hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in AdvisorShares Pure US Cannabis ETF during the second quarter worth $28,000. Stratos Wealth Partners LTD. acquired a new position in shares of AdvisorShares Pure US Cannabis ETF during the 2nd quarter worth $29,000. Raymond James Financial Inc. purchased a new stake in shares of AdvisorShares Pure US Cannabis ETF in the 2nd quarter worth about $30,000. PFS Partners LLC grew its stake in AdvisorShares Pure US Cannabis ETF by 31.3% in the 3rd quarter. PFS Partners LLC now owns 8,380 shares of the company’s stock valued at $40,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Gainplan LLC acquired a new stake in AdvisorShares Pure US Cannabis ETF in the 3rd quarter valued at about $55,000.

About AdvisorShares Pure US Cannabis ETF

The AdvisorShares Pure US Cannabis ETF (MSOS) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed narrow portfolio of US stocks or swap contracts related to the domestic cannabis and hemp industry. MSOS was launched on Sep 1, 2020 and is managed by AdvisorShares.