AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading 6% Higher – Still a Buy?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s stock price were up 6% during trading on Tuesday . The stock traded as high as $4.67 and last traded at $4.8120. Approximately 11,815,036 shares changed hands during mid-day trading, an increase of 31% from the average daily volume of 9,005,022 shares. The stock had previously closed at $4.54.

AdvisorShares Pure US Cannabis ETF Stock Up 0.6%

The stock’s 50-day moving average price is $4.24 and its 200 day moving average price is $3.95. The company has a market cap of $894.38 million, a P/E ratio of 12.20 and a beta of 1.20.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

Several large investors have recently modified their holdings of the stock. PFS Partners LLC raised its stake in 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 acquiring an additional 2,000 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of AdvisorShares Pure US Cannabis ETF by 2.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 123,040 shares of the company’s stock worth $297,000 after purchasing an additional 3,000 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in AdvisorShares Pure US Cannabis ETF by 3.1% during the 3rd quarter. Geneos Wealth Management Inc. now owns 116,814 shares of the company’s stock valued at $560,000 after purchasing an additional 3,500 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in AdvisorShares Pure US Cannabis ETF by 18.3% during the second quarter. Envestnet Asset Management Inc. now owns 24,397 shares of the company’s stock worth $59,000 after buying an additional 3,777 shares during the last quarter. Finally, Black Maple Capital Management LP boosted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 12.5% in the 2nd quarter. Black Maple Capital Management LP now owns 45,000 shares of the company’s stock worth $108,000 after acquiring an additional 5,000 shares in the last quarter.

About AdvisorShares Pure US Cannabis ETF

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.