AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Down 7.9% – Here’s Why

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) were down 7.9% on Friday . The company traded as low as $3.83 and last traded at $3.8590. Approximately 3,641,328 shares traded hands during trading, a decline of 40% from the average daily volume of 6,047,673 shares. The stock had previously closed at $4.19.

AdvisorShares Pure US Cannabis ETF Trading Down 10.0%

The company has a market capitalization of $740.69 million, a P/E ratio of 12.20 and a beta of 1.20. The stock has a 50 day moving average price of $4.60 and a 200 day moving average price of $4.49.

Institutional Trading of AdvisorShares Pure US Cannabis ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stratos Wealth Partners LTD. acquired a new position in shares of AdvisorShares Pure US Cannabis ETF in the second quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new position in AdvisorShares Pure US Cannabis ETF in the 2nd quarter valued at approximately $30,000. Kestra Advisory Services LLC bought a new position in shares of AdvisorShares Pure US Cannabis ETF during the fourth quarter valued at $36,000. PFS Partners LLC lifted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 31.3% during the third quarter. PFS Partners LLC now owns 8,380 shares of the company’s stock worth $40,000 after purchasing an additional 2,000 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in shares of AdvisorShares Pure US Cannabis ETF during the fourth quarter worth $48,000.

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.