AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading 6.7% Higher – Still a Buy?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s stock price were up 6.7% on Tuesday . The stock traded as high as $3.93 and last traded at $3.81. Approximately 9,766,582 shares were traded during mid-day trading, an increase of 0% from the average daily volume of 9,761,991 shares. The stock had previously closed at $3.57.

AdvisorShares Pure US Cannabis ETF Stock Up 6.3 %

The stock has a market capitalization of $469.40 million, a price-to-earnings ratio of 12.20 and a beta of 0.77. The business’s 50-day moving average is $4.74 and its two-hundred day moving average is $6.30.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

A number of institutional investors have recently added to or reduced their stakes in MSOS. Sanctuary Advisors LLC purchased a new stake in shares of AdvisorShares Pure US Cannabis ETF in the 2nd quarter valued at approximately $79,000. Pallas Capital Advisors LLC acquired a new stake in AdvisorShares Pure US Cannabis ETF during the third quarter worth $83,000. Mesirow Financial Investment Management Inc. purchased a new stake in AdvisorShares Pure US Cannabis ETF in the third quarter valued at $163,000. Horrell Capital Management Inc. grew its holdings in shares of AdvisorShares Pure US Cannabis ETF by 29.2% during the 3rd quarter. Horrell Capital Management Inc. now owns 27,269 shares of the company’s stock worth $196,000 after purchasing an additional 6,162 shares during the period. Finally, Clear Harbor Asset Management LLC increased its position in shares of AdvisorShares Pure US Cannabis ETF by 26.7% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 28,500 shares of the company’s stock worth $204,000 after purchasing an additional 6,000 shares during the last quarter.

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.