AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Trading Up 5.7% – Here’s Why

Shares of AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) were up 5.7% on Thursday . The stock traded as high as $3.19 and last traded at $3.14. Approximately 32,192 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 53,843 shares. The stock had previously closed at $2.97.

AdvisorShares Pure Cannabis ETF Price Performance

The stock has a market cap of $36.21 million, a PE ratio of 21.88 and a beta of 1.28. The business has a 50 day moving average price of $2.91 and a two-hundred day moving average price of $3.02.

Institutional Investors Weigh In On AdvisorShares Pure Cannabis ETF

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC purchased a new position in shares of AdvisorShares Pure Cannabis ETF in the fourth quarter valued at about $26,000. Sankala Group LLC purchased a new stake in shares of AdvisorShares Pure Cannabis ETF during the fourth quarter worth about $40,000. Advisory Alpha LLC bought a new stake in shares of AdvisorShares Pure Cannabis ETF in the fourth quarter worth about $57,000. Geneos Wealth Management Inc. grew its stake in shares of AdvisorShares Pure Cannabis ETF by 1,252.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 50,860 shares of the company’s stock worth $168,000 after purchasing an additional 47,100 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in AdvisorShares Pure Cannabis ETF by 23.8% during the 2nd quarter. Jane Street Group LLC now owns 141,248 shares of the company’s stock valued at $268,000 after purchasing an additional 27,153 shares during the period.

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. YOLO was launched on Apr 17, 2019 and is managed by AdvisorShares.