AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Stock Price Down 6.8% – What’s Next?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s stock price dropped 6.8% during mid-day trading on Tuesday . The stock traded as low as $3.80 and last traded at $3.81. Approximately 1,561,370 shares changed hands during trading, a decline of 75% from the average daily volume of 6,304,034 shares. The stock had previously closed at $4.09.

AdvisorShares Pure US Cannabis ETF Price Performance

The company has a market cap of $789.85 million, a PE ratio of 12.20 and a beta of 1.14. The company has a 50-day moving average of $3.86 and a 200-day moving average of $4.28.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

A number of hedge funds and other institutional investors have recently modified their holdings of MSOS. Envestnet Asset Management Inc. boosted its stake in shares of AdvisorShares Pure US Cannabis ETF by 18.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 24,397 shares of the company’s stock worth $59,000 after buying an additional 3,777 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of AdvisorShares Pure US Cannabis ETF by 9.3% in the 2nd quarter. Cresset Asset Management LLC now owns 321,641 shares of the company’s stock worth $775,000 after buying an additional 27,400 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of AdvisorShares Pure US Cannabis ETF in the 2nd quarter worth approximately $30,000. Jane Street Group LLC boosted its stake in shares of AdvisorShares Pure US Cannabis ETF by 986.6% in the 2nd quarter. Jane Street Group LLC now owns 550,600 shares of the company’s stock worth $1,327,000 after buying an additional 612,700 shares during the last quarter. Finally, Black Maple Capital Management LP boosted its stake in shares of AdvisorShares Pure US Cannabis ETF by 12.5% in the 2nd quarter. Black Maple Capital Management LP now owns 45,000 shares of the company’s stock worth $108,000 after buying an additional 5,000 shares during the last quarter.

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.