Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Up 6.1% – Still a Buy?

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s share price was up 6.1% during trading on Tuesday . The stock traded as high as $27.80 and last traded at $27.80. 36,770 shares were traded during mid-day trading, a decline of 11% from the average session volume of 41,534 shares. The stock had previously closed at $26.21.

Amplify Alternative Harvest ETF Stock Performance

The company has a market capitalization of $115.93 million, a price-to-earnings ratio of 16.86 and a beta of 1.17. The business’s 50 day moving average is $24.88 and its 200 day moving average is $25.15.

Institutional Investors Weigh In On Amplify Alternative Harvest ETF

A hedge fund recently raised its position in Amplify Alternative Harvest ETF stock. Cetera Investment Advisers increased its position in Amplify Alternative Harvest ETF (NYSEARCA:MJ) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,028 shares of the company’s stock after acquiring an additional 680 shares during the period. Cetera Investment Advisers owned approximately 0.32% of Amplify Alternative Harvest ETF worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Amplify Alternative Harvest ETF Company Profile

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.