AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Trading Down 1.5% – Here’s Why

Shares of AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) were down 1.5% on Thursday . The stock traded as low as $3.15 and last traded at $3.19. Approximately 69,478 shares were traded during mid-day trading, an increase of 21% from the average daily volume of 57,326 shares. The stock had previously closed at $3.24.

AdvisorShares Pure Cannabis ETF Trading Down 2.2%

The firm has a 50-day simple moving average of $2.89 and a two-hundred day simple moving average of $3.04. The company has a market capitalization of $36.57 million, a price-to-earnings ratio of 21.88 and a beta of 1.28.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of YOLO. Jane Street Group LLC increased its position in AdvisorShares Pure Cannabis ETF by 23.8% in the 2nd quarter. Jane Street Group LLC now owns 141,248 shares of the company’s stock worth $268,000 after purchasing an additional 27,153 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of AdvisorShares Pure Cannabis ETF by 316.0% during the 3rd quarter. Wealthfront Advisers LLC now owns 415,951 shares of the company’s stock worth $1,468,000 after acquiring an additional 315,972 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of AdvisorShares Pure Cannabis ETF during the 3rd quarter worth about $818,000. CWM LLC bought a new stake in shares of AdvisorShares Pure Cannabis ETF during the 4th quarter worth about $26,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of AdvisorShares Pure Cannabis ETF by 1,252.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 50,860 shares of the company’s stock worth $168,000 after acquiring an additional 47,100 shares in the last quarter.

About AdvisorShares Pure Cannabis ETF

The AdvisorShares Pure Cannabis ETF (YOLO) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed ETF that seeks long-term capital appreciation by investing in both domestic and foreign cannabis equities, as well as total return swaps of similar securities. YOLO was launched on Apr 17, 2019 and is managed by AdvisorShares.