AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading Up 6.6% – Still a Buy?

Shares of AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) shot up 6.6% during trading on Tuesday . The stock traded as high as $7.68 and last traded at $7.57. 10,258,930 shares traded hands during trading, an increase of 15% from the average session volume of 8,915,278 shares. The stock had previously closed at $7.10.

AdvisorShares Pure US Cannabis ETF Trading Up 8.2 %

The firm has a market capitalization of $890.11 million, a P/E ratio of 12.20 and a beta of 0.77. The business’s 50 day simple moving average is $6.92 and its two-hundred day simple moving average is $7.73.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in AdvisorShares Pure US Cannabis ETF by 99.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 51,398 shares of the company’s stock valued at $514,000 after purchasing an additional 25,678 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of AdvisorShares Pure US Cannabis ETF by 30.7% during the first quarter. Geneos Wealth Management Inc. now owns 141,504 shares of the company’s stock valued at $1,416,000 after buying an additional 33,260 shares during the last quarter. Tidal Investments LLC bought a new stake in AdvisorShares Pure US Cannabis ETF in the 1st quarter worth about $1,875,000. Murchinson Ltd. purchased a new position in AdvisorShares Pure US Cannabis ETF in the 2nd quarter worth about $11,721,000. Finally, Wealthspire Advisors LLC bought a new position in AdvisorShares Pure US Cannabis ETF during the 1st quarter valued at about $152,000.

AdvisorShares Pure US Cannabis ETF Company Profile

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.