Amplify Alternative Harvest ETF (NYSEARCA:MJ) Stock Price Up 0.6% – Should You Buy?

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s share price rose 0.6% on Wednesday . The stock traded as high as $26.26 and last traded at $25.58. Approximately 21,413 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 50,294 shares. The stock had previously closed at $25.43.

Amplify Alternative Harvest ETF Stock Up 0.6%

The stock has a 50 day moving average of $29.66 and a 200 day moving average of $30.92. The company has a market capitalization of $127.13 million, a price-to-earnings ratio of 16.86 and a beta of 1.24.

Institutional Trading of Amplify Alternative Harvest ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Union Bankshares Corp purchased a new position in Amplify Alternative Harvest ETF during the third quarter worth about $35,000. PenderFund Capital Management Ltd. bought a new position in shares of Amplify Alternative Harvest ETF during the 4th quarter worth approximately $36,000. Simplex Trading LLC lifted its position in shares of Amplify Alternative Harvest ETF by 79.3% during the 2nd quarter. Simplex Trading LLC now owns 2,858 shares of the company’s stock worth $51,000 after buying an additional 1,264 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Amplify Alternative Harvest ETF in the 2nd quarter worth approximately $58,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Amplify Alternative Harvest ETF in the fourth quarter valued at approximately $60,000.

Amplify Alternative Harvest ETF Company Profile

The ETFMG Alternative Harvest ETF (MJ) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund tracks an index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products. The portfolio is weighted by market cap or equally based on a proprietary system. MJ was launched on Dec 2, 2015 and is managed by ETF Managers Group.