Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Up 4.6% – Still a Buy?

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s stock price traded up 4.6% on Tuesday . The company traded as high as $24.82 and last traded at $24.76. 43,108 shares traded hands during trading, an increase of 2% from the average session volume of 42,310 shares. The stock had previously closed at $23.67.

Amplify Alternative Harvest ETF Stock Performance

The company has a market capitalization of $109.44 million, a PE ratio of 16.86 and a beta of 1.14. The company’s 50-day simple moving average is $24.40 and its 200-day simple moving average is $25.25.

Hedge Funds Weigh In On Amplify Alternative Harvest ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in MJ. Jane Street Group LLC raised its stake in Amplify Alternative Harvest ETF by 42.3% during the 1st quarter. Jane Street Group LLC now owns 182,616 shares of the company’s stock valued at $3,561,000 after acquiring an additional 54,316 shares during the last quarter. OLD Mission Capital LLC grew its stake in shares of Amplify Alternative Harvest ETF by 65.5% in the 4th quarter. OLD Mission Capital LLC now owns 108,013 shares of the company’s stock valued at $3,218,000 after purchasing an additional 42,752 shares during the last quarter. Group One Trading LLC purchased a new position in shares of Amplify Alternative Harvest ETF in the 3rd quarter valued at approximately $379,000. Marex Group plc increased its holdings in shares of Amplify Alternative Harvest ETF by 68.0% in the fourth quarter. Marex Group plc now owns 10,007 shares of the company’s stock valued at $298,000 after purchasing an additional 4,050 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Amplify Alternative Harvest ETF during the second quarter worth approximately $58,000.

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.