AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Trading Up 3% – Still a Buy?

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO)’s stock price traded up 3% during trading on Tuesday . The stock traded as high as $2.45 and last traded at $2.42. 139,234 shares were traded during mid-day trading, an increase of 120% from the average session volume of 63,181 shares. The stock had previously closed at $2.35.

AdvisorShares Pure Cannabis ETF Stock Performance

The stock has a 50 day simple moving average of $2.72 and a 200 day simple moving average of $3.11.

Hedge Funds Weigh In On AdvisorShares Pure Cannabis ETF

Several hedge funds and other institutional investors have recently bought and sold shares of YOLO. International Assets Investment Management LLC increased its stake in AdvisorShares Pure Cannabis ETF by 394.3% during the 3rd quarter. International Assets Investment Management LLC now owns 60,480 shares of the company’s stock worth $197,000 after buying an additional 48,244 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of AdvisorShares Pure Cannabis ETF during the third quarter worth about $118,000. Finally, Jane Street Group LLC lifted its stake in shares of AdvisorShares Pure Cannabis ETF by 134.8% in the third quarter. Jane Street Group LLC now owns 214,930 shares of the company’s stock worth $701,000 after acquiring an additional 123,386 shares in the last quarter.

About AdvisorShares Pure Cannabis ETF

The AdvisorShares Pure Cannabis ETF (YOLO) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed ETF that seeks long-term capital appreciation by investing in both domestic and foreign cannabis equities, as well as total return swaps of similar securities.