AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Down 3.4%

Posted by Dante Gardener on Apr 29th, 2024

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS – Get Free Report) were down 3.4% during mid-day trading on Monday . The stock traded as low as $8.39 and last traded at $8.48. Approximately 3,604,491 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 8,410,885 shares. The stock had previously closed at $8.78.

AdvisorShares Pure US Cannabis ETF Stock Performance

The company has a market cap of $1.04 billion, a price-to-earnings ratio of 12.20 and a beta of 1.17. The firm’s 50-day moving average price is $9.07 and its 200 day moving average price is $7.96.

Institutional Trading of AdvisorShares Pure US Cannabis ETF

A number of hedge funds have recently modified their holdings of the company. Wedmont Private Capital acquired a new position in AdvisorShares Pure US Cannabis ETF in the fourth quarter valued at about $167,000. NewEdge Wealth LLC raised its position in AdvisorShares Pure US Cannabis ETF by 784.2% during the fourth quarter. NewEdge Wealth LLC now owns 92,838 shares of the company’s stock worth $651,000 after acquiring an additional 82,338 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in AdvisorShares Pure US Cannabis ETF by 10.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 101,411 shares of the company’s stock valued at $805,000 after purchasing an additional 9,180 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in AdvisorShares Pure US Cannabis ETF during the third quarter worth about $143,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in AdvisorShares Pure US Cannabis ETF by 11.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 50,280 shares of the company’s stock worth $399,000 after buying an additional 5,025 shares during the last quarter.

About AdvisorShares Pure US Cannabis ETF

(Get Free Report)

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.