AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Down 8.8% – Time to Sell?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) shares dropped 8.8% on Monday . The stock traded as low as $4.43 and last traded at $4.46. Approximately 7,937,719 shares were traded during trading, a decline of 15% from the average daily volume of 9,288,174 shares. The stock had previously closed at $4.89.

AdvisorShares Pure US Cannabis ETF Stock Performance

The firm has a market cap of $601.52 million, a PE ratio of 12.20 and a beta of 0.77. The stock has a 50 day simple moving average of $6.77 and a two-hundred day simple moving average of $7.42.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp increased its holdings in AdvisorShares Pure US Cannabis ETF by 8.3% in the second quarter. Truist Financial Corp now owns 37,728 shares of the company’s stock valued at $277,000 after buying an additional 2,906 shares in the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of AdvisorShares Pure US Cannabis ETF by 26.7% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 28,500 shares of the company’s stock valued at $204,000 after purchasing an additional 6,000 shares in the last quarter. Horrell Capital Management Inc. raised its holdings in AdvisorShares Pure US Cannabis ETF by 29.2% in the 3rd quarter. Horrell Capital Management Inc. now owns 27,269 shares of the company’s stock worth $196,000 after purchasing an additional 6,162 shares during the period. Commonwealth Equity Services LLC boosted its position in AdvisorShares Pure US Cannabis ETF by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 218,084 shares of the company’s stock worth $1,599,000 after purchasing an additional 6,758 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in AdvisorShares Pure US Cannabis ETF by 34.0% in the first quarter. Avantax Advisory Services Inc. now owns 31,855 shares of the company’s stock valued at $319,000 after purchasing an additional 8,085 shares during the period.

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.