AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Up 9.5% – Still a Buy?

Shares of AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) rose 9.5% on Tuesday . The stock traded as high as $4.00 and last traded at $3.9950. Approximately 3,206,055 shares changed hands during trading, a decline of 48% from the average daily volume of 6,201,512 shares. The stock had previously closed at $3.65.

AdvisorShares Pure US Cannabis ETF Stock Performance

The stock’s fifty day simple moving average is $4.52 and its two-hundred day simple moving average is $4.51. The company has a market capitalization of $788.83 million, a price-to-earnings ratio of 12.20 and a beta of 1.20.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC grew its holdings in shares of AdvisorShares Pure US Cannabis ETF by 98.5% in the 4th quarter. Corient Private Wealth LLC now owns 73,690 shares of the company’s stock worth $344,000 after acquiring an additional 36,569 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of AdvisorShares Pure US Cannabis ETF in the 4th quarter valued at $119,000. Vermillion & White Wealth Management Group LLC increased its stake in AdvisorShares Pure US Cannabis ETF by 25.6% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 29,465 shares of the company’s stock worth $139,000 after purchasing an additional 6,000 shares in the last quarter. NewEdge Advisors LLC increased its stake in AdvisorShares Pure US Cannabis ETF by 2,857.1% in the 4th quarter. NewEdge Advisors LLC now owns 10,350 shares of the company’s stock worth $49,000 after purchasing an additional 10,000 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in AdvisorShares Pure US Cannabis ETF during the 4th quarter worth about $149,000.

AdvisorShares Pure US Cannabis ETF Company Profile

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.