AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Up 4.6%

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s stock price shot up 4.6% during trading on Wednesday . The company traded as high as $9.38 and last traded at $9.37. 4,859,992 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 8,392,180 shares. The stock had previously closed at $8.96.

AdvisorShares Pure US Cannabis ETF Stock Performance

The firm has a market cap of $1.07 billion, a P/E ratio of 12.20 and a beta of 1.17. The business’s 50-day simple moving average is $9.12 and its 200 day simple moving average is $7.87.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

Large investors have recently added to or reduced their stakes in the stock. Wedmont Private Capital bought a new stake in AdvisorShares Pure US Cannabis ETF in the 4th quarter worth approximately $167,000. Kestra Advisory Services LLC grew its position in AdvisorShares Pure US Cannabis ETF by 10.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 101,411 shares of the company’s stock worth $805,000 after purchasing an additional 9,180 shares during the period. Axxcess Wealth Management LLC bought a new stake in AdvisorShares Pure US Cannabis ETF in the 3rd quarter worth approximately $143,000. Cambridge Investment Research Advisors Inc. grew its position in shares of AdvisorShares Pure US Cannabis ETF by 11.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 50,280 shares of the company’s stock valued at $399,000 after acquiring an additional 5,025 shares during the period. Finally, AE Wealth Management LLC bought a new stake in shares of AdvisorShares Pure US Cannabis ETF during the 3rd quarter valued at $572,000.

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.