NewEdge Wealth LLC Increases Stake in AdvisorShares Pure US Cannabis ETF $MSOS

NewEdge Wealth LLC lifted its stake in AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) by 858.6% in the third quarter, HoldingsChannel reports. The firm owned 500,271 shares of the company’s stock after acquiring an additional 448,084 shares during the quarter. NewEdge Wealth LLC’s holdings in AdvisorShares Pure US Cannabis ETF were worth $2,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MSOS. Stratos Wealth Partners LTD. acquired a new position in AdvisorShares Pure US Cannabis ETF in the second quarter valued at approximately $29,000. Monaco Asset Management SAM grew its holdings in shares of AdvisorShares Pure US Cannabis ETF by 9.8% during the second quarter. Monaco Asset Management SAM now owns 1,125,000 shares of the company’s stock worth $2,711,000 after buying an additional 100,000 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of AdvisorShares Pure US Cannabis ETF by 29.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 578,445 shares of the company’s stock valued at $1,394,000 after purchasing an additional 131,510 shares during the last quarter. AdvisorShares Investments LLC increased its holdings in shares of AdvisorShares Pure US Cannabis ETF by 15.3% in the third quarter. AdvisorShares Investments LLC now owns 3,759,593 shares of the company’s stock valued at $18,008,000 after purchasing an additional 500,100 shares during the period. Finally, Tejara Capital Ltd acquired a new position in shares of AdvisorShares Pure US Cannabis ETF in the second quarter valued at approximately $234,000.

AdvisorShares Pure US Cannabis ETF Price Performance

AdvisorShares Pure US Cannabis ETF stock opened at $3.77 on Friday. The business has a 50 day simple moving average of $4.56 and a 200-day simple moving average of $4.50. AdvisorShares Pure US Cannabis ETF has a 12 month low of $2.02 and a 12 month high of $7.25. The stock has a market capitalization of $740.69 million, a PE ratio of 12.20 and a beta of 1.20.

AdvisorShares Pure US Cannabis ETF Company Profile

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.