Amplify Alternative Harvest ETF (NYSEARCA:MJ) Trading Up 0.9% – Here’s Why

Amplify Alternative Harvest ETF (NYSEARCA:MJ) traded up 0.9% during trading on Tuesday . The company traded as high as $23.69 and last traded at $23.51. 13,934 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 44,126 shares. The stock had previously closed at $23.31.

Amplify Alternative Harvest ETF Trading Up 0.9%

The company’s 50 day moving average is $25.20 and its 200 day moving average is $25.98. The company has a market cap of $103.91 million, a PE ratio of 16.86 and a beta of 1.12.

Hedge Funds Weigh In On Amplify Alternative Harvest ETF

Institutional investors have recently modified their holdings of the stock. PenderFund Capital Management Ltd. bought a new stake in shares of Amplify Alternative Harvest ETF during the fourth quarter valued at approximately $36,000. Kestra Advisory Services LLC bought a new position in Amplify Alternative Harvest ETF in the fourth quarter worth approximately $60,000. Murphy Middleton Hinkle & Parker Inc. purchased a new position in Amplify Alternative Harvest ETF during the 4th quarter worth $95,000. Raymond James Financial Inc. purchased a new position in Amplify Alternative Harvest ETF during the 2nd quarter worth $58,000. Finally, Marex Group plc increased its holdings in Amplify Alternative Harvest ETF by 68.0% during the 4th quarter. Marex Group plc now owns 10,007 shares of the company’s stock worth $298,000 after purchasing an additional 4,050 shares during the period.

About Amplify Alternative Harvest ETF

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.