Shares of AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $5.10, but opened at $5.35. AdvisorShares Pure US Cannabis ETF shares last traded at $5.49, with a volume of 4,151,189 shares changing hands.
AdvisorShares Pure US Cannabis ETF Stock Performance
The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 12.20 and a beta of 1.32. The company has a 50-day moving average of $4.43 and a 200-day moving average of $4.27.
Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF
Several institutional investors have recently added to or reduced their stakes in MSOS. AdvisorShares Investments LLC increased 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 acquiring an additional 500,100 shares during the period. Clear Street Group Inc. acquired a new position in shares of AdvisorShares Pure US Cannabis ETF during the third quarter worth about $32,633,000. Rovida Advisors Inc. increased its stake 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 acquiring an additional 200,000 shares during the period. Simplicity Wealth LLC acquired a new position in AdvisorShares Pure US Cannabis ETF during the 4th quarter worth approximately $769,000. Finally, NewEdge Wealth LLC increased its position in AdvisorShares Pure US Cannabis ETF by 82.0% during the 4th quarter. NewEdge Wealth LLC now owns 910,458 shares of the company’s stock worth $4,297,000 after purchasing an additional 410,187 shares during the period.
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.
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