Cambria Cannabis ETF (BATS:TOKE) Trading Down 6.3% – Should You Sell?

Cambria Cannabis ETF (BATS:TOKE)’s share price dropped 6.3% on Friday . The company traded as low as $4.83 and last traded at $4.54. Approximately 37,163 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 23,301 shares. The stock had previously closed at $4.84.

Cambria Cannabis ETF Price Performance

The business’s fifty day moving average price is $4.86 and its 200-day moving average price is $5.39. The stock has a market capitalization of $11.56 million, a price-to-earnings ratio of 11.33 and a beta of 1.09.

Hedge Funds Weigh In On Cambria Cannabis ETF

Hedge funds have recently added to or reduced their stakes in the stock. Eschler Asset Management LLP bought a new position in shares of Cambria Cannabis ETF in the fourth quarter valued at approximately $205,000. OLD Mission Capital LLC raised its position in Cambria Cannabis ETF by 94.0% in the 4th quarter. OLD Mission Capital LLC now owns 73,570 shares of the company’s stock valued at $378,000 after buying an additional 35,643 shares during the last quarter. Marathon Partners Equity Management LLC purchased a new stake in Cambria Cannabis ETF in the 4th quarter valued at $385,000. Finally, Jane Street Group LLC lifted its stake in Cambria Cannabis ETF by 756.7% during the 4th quarter. Jane Street Group LLC now owns 138,415 shares of the company’s stock valued at $710,000 after acquiring an additional 122,258 shares in the last quarter.

About Cambria Cannabis ETF

The Cambria Cannabis ETF (TOKE) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed portfolio of globally-listed companies related to cannabis and hemp. TOKE was launched on Jul 25, 2019 and is managed by Cambria.