AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Sees Strong Trading Volume – Still a Buy?

Shares of AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) saw an uptick in trading volume on Wednesday . Approximately 30,086 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 45,077 shares.The stock last traded at $2.99 and had previously closed at $3.05.

AdvisorShares Pure Cannabis ETF Trading Up 0.7%

The company’s 50 day simple moving average is $2.83 and its 200-day simple moving average is $2.87. The firm has a market cap of $359.98 billion, a P/E ratio of 21.88 and a beta of 1.31.

Hedge Funds Weigh In On AdvisorShares Pure Cannabis ETF

A number of institutional investors and hedge funds have recently modified their holdings of YOLO. Kingsbury Capital Investment Advisors LLC bought a new position in shares of AdvisorShares Pure Cannabis ETF in the second quarter worth approximately $30,000. Sankala Group LLC purchased a new stake in shares of AdvisorShares Pure Cannabis ETF in the fourth quarter worth $40,000. Advisory Alpha LLC bought a new stake in shares of AdvisorShares Pure Cannabis ETF during the 4th quarter valued at $57,000. Finally, Heritage Oak Wealth Advisors LLC raised its position in shares of AdvisorShares Pure Cannabis ETF by 5.2% during the 1st quarter. Heritage Oak Wealth Advisors LLC now owns 626,886 shares of the company’s stock valued at $1,649,000 after purchasing an additional 31,218 shares during the period.

AdvisorShares Pure Cannabis ETF Company Profile

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.