NewLake Capital Partners (OTCMKTS:NLCP) Shares Climb 0.6% – Here’s Why

NewLake Capital Partners, Inc. (OTCMKTS:NLCP) traded up 0.6% on Monday. The stock traded as high as $15.18 and last traded at $15.01. 50,777 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 86,472 shares. The stock had previously closed at $14.92.

NewLake Capital Partners Price Performance

The stock has a 50-day moving average price of $15.58 and a two-hundred day moving average price of $15.21.

Institutional Trading of NewLake Capital Partners

An institutional investor recently raised its position in NewLake Capital Partners stock. Ancora Advisors LLC boosted its stake in NewLake Capital Partners, Inc. (OTCMKTS:NLCP) by 53.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,450 shares of the company’s stock after acquiring an additional 19,280 shares during the period. Ancora Advisors LLC’s holdings in NewLake Capital Partners were worth $885,000 at the end of the most recent reporting period.

NewLake Capital Partners Company Profile

NewLake Capital Partners, Inc is a real estate investment trust focused on owning and managing properties used by state-licensed cannabis operators in the United States. The company provides real estate capital to cannabis businesses by acquiring cultivation, processing, and retail facilities and leasing those properties to established operators.

NewLake generally uses long-term, triple-net lease arrangements, under which tenants are responsible for most property-level expenses, including taxes, insurance, and maintenance.