Cambria Cannabis ETF (BATS:TOKE) Trading 25.1% Higher – Time to Buy?

Cambria Cannabis ETF (BATS:TOKE) was up 25.1% during mid-day trading on Thursday . The stock traded as high as $4.98 and last traded at $6.11. Approximately 8,483 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 21,078 shares. The stock had previously closed at $4.8842.

Cambria Cannabis ETF Stock Performance

The stock has a 50 day moving average of $5.84 and a 200 day moving average of $5.74. The stock has a market capitalization of $15.58 million, a P/E ratio of 15.43 and a beta of 1.02.

Cambria Cannabis ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Thursday, December 18th were issued a $0.0235 dividend. This is a boost from Cambria Cannabis ETF’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, December 18th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.5%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE acquired a new stake in shares of Cambria Cannabis ETF in the third quarter valued at approximately $35,000. Griffin Asset Management Inc. acquired a new position in shares of Cambria Cannabis ETF during the third quarter worth approximately $271,000. Finally, Jane Street Group LLC grew its holdings in Cambria Cannabis ETF by 40.6% in the 2nd quarter. Jane Street Group LLC now owns 164,603 shares of the company’s stock worth $737,000 after buying an additional 47,557 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.