AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Up 6.9% – Still a Buy?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s share price shot up 6.9% on Tuesday . The company traded as high as $4.63 and last traded at $4.7590. 1,086,521 shares traded hands during trading, a decline of 88% from the average session volume of 8,984,375 shares. The stock had previously closed at $4.45.

AdvisorShares Pure US Cannabis ETF Stock Up 6.6%

The firm has a market cap of $893.25 million, a price-to-earnings ratio of 12.20 and a beta of 1.20. The stock has a fifty day moving average price of $4.23 and a 200-day moving average price of $4.02.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

A number of large investors have recently bought and sold shares of the company. Turim 21 Investimentos Ltda. lifted its stake in shares of AdvisorShares Pure US Cannabis ETF by 1,480.1% in the 3rd quarter. Turim 21 Investimentos Ltda. now owns 21,727 shares of the company’s stock worth $104,000 after acquiring an additional 20,352 shares during the period. Quarry LP acquired a new stake in AdvisorShares Pure US Cannabis ETF in the third quarter valued at about $1,039,000. Prelude Capital Management LLC acquired a new stake in AdvisorShares Pure US Cannabis ETF in the third quarter valued at about $883,000. PenderFund Capital Management Ltd. purchased a new stake in AdvisorShares Pure US Cannabis ETF in the 3rd quarter valued at approximately $65,000. Finally, Mariner LLC purchased a new stake in AdvisorShares Pure US Cannabis ETF in the 3rd quarter valued at approximately $669,000.

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.