AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Stock Price Down 3.7% – Here’s Why

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) shares fell 3.7% during trading on Monday . The company traded as low as $3.26 and last traded at $3.2650. 974,068 shares changed hands during trading, a decline of 88% from the average session volume of 7,870,957 shares. The stock had previously closed at $3.39.

AdvisorShares Pure US Cannabis ETF Price Performance

The business has a 50 day simple moving average of $4.46 and a 200 day simple moving average of $3.69. The stock has a market cap of $645.83 million, a PE ratio of 12.20 and a beta of 1.20.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. PFS Partners LLC lifted its position in AdvisorShares Pure US Cannabis ETF by 31.3% during the third quarter. PFS Partners LLC now owns 8,380 shares of the company’s stock worth $40,000 after purchasing an additional 2,000 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 2.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 123,040 shares of the company’s stock worth $297,000 after acquiring an additional 3,000 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of AdvisorShares Pure US Cannabis ETF by 3.1% during the 3rd quarter. Geneos Wealth Management Inc. now owns 116,814 shares of the company’s stock worth $560,000 after acquiring an additional 3,500 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of AdvisorShares Pure US Cannabis ETF by 18.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,397 shares of the company’s stock worth $59,000 after acquiring an additional 3,777 shares in the last quarter. Finally, Black Maple Capital Management LP increased its stake in AdvisorShares Pure US Cannabis ETF by 12.5% in the second quarter. Black Maple Capital Management LP now owns 45,000 shares of the company’s stock valued at $108,000 after acquiring an additional 5,000 shares during the last quarter.

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.