Amplify Alternative Harvest ETF (NYSEARCA:MJ) Trading Down 3.3% – Time to Sell?

Shares of Amplify Alternative Harvest ETF (NYSEARCA:MJ) traded down 3.3% during trading on Wednesday . The stock traded as low as $25.17 and last traded at $25.60. 43,971 shares were traded during mid-day trading, a decline of 1% from the average session volume of 44,387 shares. The stock had previously closed at $26.46.

Amplify Alternative Harvest ETF Stock Up 0.4%

The company has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $26.99. The stock has a market capitalization of $134.29 million, a price-to-earnings ratio of 16.86 and a beta of 1.12.

Hedge Funds Weigh In On Amplify Alternative Harvest ETF

Institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC acquired a new position in Amplify Alternative Harvest ETF in the third quarter valued at approximately $296,000. Murphy Middleton Hinkle & Parker Inc. acquired a new position in Amplify Alternative Harvest ETF in the fourth quarter valued at approximately $95,000. Raymond James Financial Inc. acquired a new position in Amplify Alternative Harvest ETF in the second quarter valued at approximately $58,000. Group One Trading LLC acquired a new position in Amplify Alternative Harvest ETF in the third quarter valued at approximately $379,000. Finally, UBS Group AG lifted its stake in Amplify Alternative Harvest ETF by 9.3% in the third quarter. UBS Group AG now owns 19,805 shares of the company’s stock valued at $740,000 after buying an additional 1,681 shares during the period.

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.