AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Stock Price Up 6.9% – Here’s Why

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) rose 6.9% during mid-day trading on Tuesday . The stock traded as high as $4.63 and last traded at $4.7590. Approximately 1,086,521 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 8,984,375 shares. The stock had previously closed at $4.45.

AdvisorShares Pure US Cannabis ETF Stock Up 6.6%

The firm has a fifty day simple moving average of $4.23 and a 200-day simple moving average of $4.02. The company has a market cap of $893.25 million, a PE 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 added to or reduced their stakes in the company. Suvretta Capital Management LLC purchased a new stake in AdvisorShares Pure US Cannabis ETF in the 3rd quarter valued at $34,330,000. Clear Street Group Inc. purchased a new stake in shares of AdvisorShares Pure US Cannabis ETF in the third quarter valued at about $32,633,000. AdvisorShares Investments LLC boosted its stake in shares of AdvisorShares Pure US Cannabis ETF by 15.3% during the third quarter. AdvisorShares Investments LLC now owns 3,759,593 shares of the company’s stock worth $18,008,000 after buying an additional 500,100 shares during the period. Group One Trading LLC boosted its stake in shares of 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 buying an additional 765,690 shares during the period. Finally, Rovida Advisors Inc. grew its holdings in shares of 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 buying an additional 200,000 shares during 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.