Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Down 1.7% – What’s Next?

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s share price fell 1.7% during mid-day trading on Monday . The stock traded as low as $16.47 and last traded at $17.25. 167,292 shares were traded during trading, an increase of 124% from the average session volume of 74,661 shares. The stock had previously closed at $17.55.

Amplify Alternative Harvest ETF Stock Performance

The stock’s 50 day simple moving average is $22.53 and its 200 day simple moving average is $28.89. The firm has a market cap of $99.53 million, a PE ratio of 16.72 and a beta of 1.27.

Institutional Investors Weigh In On Amplify Alternative Harvest ETF

Several hedge funds have recently added to or reduced their stakes in the company. Quinn Opportunity Partners LLC boosted its stake in shares of Amplify Alternative Harvest ETF by 26.5% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,308,825 shares of the company’s stock valued at $2,932,000 after purchasing an additional 274,441 shares in the last quarter. Raffles Associates LP bought a new stake in Amplify Alternative Harvest ETF in the fourth quarter worth $1,176,000. Jaffetilchin Investment Partners LLC boosted its position in Amplify Alternative Harvest ETF by 26,197.0% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 473,083 shares of the company’s stock valued at $1,060,000 after buying an additional 471,284 shares during the period. Millennium Management LLC bought a new position in shares of Amplify Alternative Harvest ETF during the fourth quarter valued at about $494,000. Finally, Prosperity Wealth Management Inc. increased its holdings in shares of Amplify Alternative Harvest ETF by 40.8% in the fourth quarter. Prosperity Wealth Management Inc. now owns 198,047 shares of the company’s stock worth $444,000 after buying an additional 57,418 shares during the period.

About Amplify Alternative Harvest ETF

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.