AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading 12% Higher – Here’s Why

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) traded up 12% during trading on Friday . The stock traded as high as $3.35 and last traded at $3.3950. 3,819,027 shares were traded during mid-day trading, a decline of 52% from the average session volume of 7,879,479 shares. The stock had previously closed at $3.03.

AdvisorShares Pure US Cannabis ETF Trading Up 12.3%

The business has a fifty day simple moving average of $4.51 and a two-hundred day simple moving average of $3.67. The company has a market cap of $640.56 million, a PE ratio of 12.20 and a beta of 1.20.

Hedge Funds 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 stock. Suvretta Capital Management LLC acquired a new stake in shares of AdvisorShares Pure US Cannabis ETF in the 3rd quarter worth $34,330,000. Clear Street Group Inc. acquired a new position in shares of AdvisorShares Pure US Cannabis ETF during the 3rd quarter valued at about $32,633,000. AdvisorShares Investments LLC grew its holdings in shares of AdvisorShares Pure US Cannabis ETF by 15.3% in the third quarter. AdvisorShares Investments LLC now owns 3,759,593 shares of the company’s stock valued at $18,008,000 after purchasing an additional 500,100 shares during the period. Group One Trading LLC increased its position in AdvisorShares Pure US Cannabis ETF by 153.4% during the second quarter. Group One Trading LLC now owns 1,264,841 shares of the company’s stock worth $3,048,000 after purchasing an additional 765,690 shares during the last quarter. Finally, Rovida Advisors Inc. increased its position in AdvisorShares Pure US Cannabis ETF by 20.0% during the third quarter. Rovida Advisors Inc. now owns 1,200,000 shares of the company’s stock worth $5,796,000 after purchasing an additional 200,000 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.