AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Sees Large Growth in Short Interest

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 30,201 shares, an increase of 35.8% from the February 26th total of 22,245 shares. Based on an average daily volume of 35,301 shares, the short-interest ratio is presently 0.9 days. Approximately 0.2% of the company’s stock are short sold.

AdvisorShares Pure Cannabis ETF Trading Down 2.4%

NYSEARCA YOLO traded down $0.06 during trading on Monday, hitting $2.48. 38,720 shares of the company traded hands, compared to its average volume of 54,021. AdvisorShares Pure Cannabis ETF has a 12 month low of $1.45 and a 12 month high of $4.53. The business has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $3.12. The company has a market capitalization of $31.15 million, a P/E ratio of 21.88 and a beta of 1.38.

Institutional Investors Weigh In On AdvisorShares Pure Cannabis ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in YOLO. CWM LLC bought a new stake in AdvisorShares Pure Cannabis ETF during the fourth quarter worth approximately $26,000. Sankala Group LLC bought a new position in shares of AdvisorShares Pure Cannabis ETF in the fourth quarter valued at approximately $40,000. Advisory Alpha LLC bought a new position in shares of AdvisorShares Pure Cannabis ETF in the fourth quarter valued at approximately $57,000. Geneos Wealth Management Inc. lifted its stake in shares of AdvisorShares Pure Cannabis ETF by 1,252.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 50,860 shares of the company’s stock worth $168,000 after buying an additional 47,100 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of AdvisorShares Pure Cannabis ETF by 11.4% during the 4th quarter. LPL Financial LLC now owns 103,057 shares of the company’s stock worth $340,000 after buying an additional 10,582 shares during the period.

About AdvisorShares Pure Cannabis ETF

The AdvisorShares Pure Cannabis ETF (YOLO) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed ETF that seeks long-term capital appreciation by investing in both domestic and foreign cannabis equities, as well as total return swaps of similar securities. YOLO was launched on Apr 17, 2019 and is managed by AdvisorShares.