Short Interest in Amplify Alternative Harvest ETF (NYSEARCA:MJ) Rises By 121.5%

Amplify Alternative Harvest ETF (NYSEARCA:MJ) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 135,471 shares, an increase of 121.5% from the May 31st total of 61,162 shares. Based on an average daily volume of 47,504 shares, the short-interest ratio is presently 2.9 days. Currently, 2.7% of the shares of the company are sold short.

Amplify Alternative Harvest ETF Stock Performance

MJ stock opened at $25.51 on Thursday. The firm has a market cap of $111.48 million, a PE ratio of 16.86 and a beta of 1.12. The firm’s fifty day moving average is $26.12 and its 200 day moving average is $26.93. Amplify Alternative Harvest ETF has a one year low of $18.02 and a one year high of $46.75.

Institutional Investors Weigh In On Amplify Alternative Harvest ETF

A number of institutional investors have recently modified their holdings of MJ. Cetera Investment Advisers increased its stake in Amplify Alternative Harvest ETF by 4.4% during the 1st quarter. Cetera Investment Advisers now owns 16,028 shares of the company’s stock worth $369,000 after buying an additional 680 shares in the last quarter. OLD Mission Capital LLC boosted its stake in shares of Amplify Alternative Harvest ETF by 65.5% in the fourth quarter. OLD Mission Capital LLC now owns 108,013 shares of the company’s stock worth $3,218,000 after acquiring an additional 42,752 shares during the last quarter. PenderFund Capital Management Ltd. acquired a new stake in shares of Amplify Alternative Harvest ETF in the fourth quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Amplify Alternative Harvest ETF during the fourth quarter worth approximately $60,000. Finally, Marex Group plc increased its position in shares of Amplify Alternative Harvest ETF by 68.0% during the fourth quarter. Marex Group plc now owns 10,007 shares of the company’s stock worth $298,000 after purchasing an additional 4,050 shares in the last quarter.

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.