Amplify Seymour Cannabis ETF (NYSEARCA:CNBS) Shares Down 6% – Here’s Why

Amplify Seymour Cannabis ETF (NYSEARCA:CNBS)’s stock price dropped 6% during mid-day trading on Monday . The company traded as low as $27.29 and last traded at $27.29. 14,441 shares changed hands during trading, a decline of 20% from the average session volume of 18,072 shares. The stock had previously closed at $29.03.

Amplify Seymour Cannabis ETF Stock Down 6.0%

The company’s fifty day moving average price is $27.97 and its 200 day moving average price is $26.46. The company has a market capitalization of $89.78 million, a P/E ratio of 17.73 and a beta of 1.13.

Hedge Funds Weigh In On Amplify Seymour Cannabis ETF

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its holdings in Amplify Seymour Cannabis ETF by 46.7% in the 4th quarter. Jane Street Group LLC now owns 69,304 shares of the company’s stock valued at $1,966,000 after acquiring an additional 22,070 shares in the last quarter. Tidal Investments LLC increased its position in shares of Amplify Seymour Cannabis ETF by 4.3% in the third quarter. Tidal Investments LLC now owns 3,146,879 shares of the company’s stock worth $93,053,000 after purchasing an additional 130,781 shares during the period. LPL Financial LLC increased its position in shares of Amplify Seymour Cannabis ETF by 15.9% in the fourth quarter. LPL Financial LLC now owns 25,499 shares of the company’s stock worth $723,000 after purchasing an additional 3,489 shares during the period. Finally, Simplex Trading LLC raised its stake in Amplify Seymour Cannabis ETF by 844.6% in the fourth quarter. Simplex Trading LLC now owns 869 shares of the company’s stock valued at $25,000 after purchasing an additional 777 shares in the last quarter.

Amplify Seymour Cannabis ETF Company Profile

The Amplify Growth Opportunities ETF (CNBS) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed portfolio of global stocks related to cannabis and hemp. The fund also invests in derivatives with similar characteristics. CNBS was launched on Jul 23, 2019 and is managed by Amplify.