Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Down 1.3% – Here’s What Happened

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s share price dropped 1.3% during trading on Tuesday. The company traded as low as $22.66 and last traded at $22.73. 13,820 shares changed hands during trading, a decline of 67% from the average daily volume of 41,286 shares. The stock had previously closed at $23.04.

Amplify Alternative Harvest ETF Stock Performance

The company has a market cap of $98.33 million, a PE ratio of 16.86 and a beta of 1.15. The stock’s 50-day simple moving average is $25.47 and its 200 day simple moving average is $25.21.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Amplify Alternative Harvest ETF stock. Cetera Investment Advisers boosted its position in Amplify Alternative Harvest ETF (NYSEARCA:MJ) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,028 shares of the company’s stock after purchasing an additional 680 shares during the period. Cetera Investment Advisers owned about 0.32% of Amplify Alternative Harvest ETF worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Amplify Alternative Harvest ETF Company Profile

The ETFMG Alternative Harvest ETF (MJ) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund tracks an index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products. The portfolio is weighted by market cap or equally based on a proprietary system. MJ was launched on Dec 2, 2015 and is managed by ETF Managers Group.