AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Stock Price Down 3.6%

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s stock price fell 3.6% during mid-day trading on Thursday . The company traded as low as $9.74 and last traded at $9.81. 8,572,349 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 7,921,412 shares. The stock had previously closed at $10.18.

AdvisorShares Pure US Cannabis ETF Price Performance

The stock has a 50 day moving average price of $8.97 and a 200-day moving average price of $7.73.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Biltmore Family Office LLC grew its stake in shares of AdvisorShares Pure US Cannabis ETF by 145.9% in the fourth quarter. Biltmore Family Office LLC now owns 390,777 shares of the company’s stock valued at $2,739,000 after buying an additional 231,887 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of AdvisorShares Pure US Cannabis ETF by 7.2% in the fourth quarter. Kestra Advisory Services LLC now owns 108,763 shares of the company’s stock valued at $762,000 after buying an additional 7,352 shares in the last quarter. Creative Planning grew its stake in shares of AdvisorShares Pure US Cannabis ETF by 10,897.0% in the fourth quarter. Creative Planning now owns 44,538 shares of the company’s stock valued at $312,000 after buying an additional 44,133 shares in the last quarter. Eminence Capital LP grew its stake in shares of AdvisorShares Pure US Cannabis ETF by 8.2% in the fourth quarter. Eminence Capital LP now owns 6,496,078 shares of the company’s stock valued at $45,538,000 after buying an additional 493,042 shares in the last quarter. Finally, Lighthouse Investment Partners LLC grew its stake in AdvisorShares Pure US Cannabis ETF by 2.0% during the 4th quarter. Lighthouse Investment Partners LLC now owns 382,507 shares of the company’s stock worth $2,681,000 after purchasing an additional 7,521 shares in the last quarter.

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.