Cambria Cannabis ETF (BATS:TOKE) Stock Price Up 25.1% – Still a Buy?

Cambria Cannabis ETF (BATS:TOKE) traded up 25.1% during mid-day trading on Thursday . The stock traded as high as $4.98 and last traded at $6.11. 8,483 shares changed hands during trading, a decline of 60% from the average session volume of 21,078 shares. The stock had previously closed at $4.8842.

Cambria Cannabis ETF Trading Up 25.1%

The company has a market cap of $15.58 million, a price-to-earnings ratio of 15.43 and a beta of 1.02. The firm has a 50-day moving average price of $5.84 and a 200 day moving average price of $5.74.

Cambria Cannabis ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Thursday, December 18th were paid a dividend of $0.0235 per share. The ex-dividend date was Thursday, December 18th. This is a positive change from Cambria Cannabis ETF’s previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a yield of 1.5%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in Cambria Cannabis ETF during the third quarter worth about $35,000. Griffin Asset Management Inc. bought a new position in shares of Cambria Cannabis ETF during the third quarter valued at approximately $271,000. Finally, Jane Street Group LLC raised its position in shares of Cambria Cannabis ETF by 40.6% during the 2nd quarter. Jane Street Group LLC now owns 164,603 shares of the company’s stock worth $737,000 after purchasing an additional 47,557 shares during the period.

Cambria Cannabis ETF Company Profile

The Cambria Cannabis ETF (TOKE) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed portfolio of globally-listed companies related to cannabis and hemp. TOKE was launched on Jul 25, 2019 and is managed by Cambria.