AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading Up 7% – Still a Buy?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s share price were up 7% on Monday . The stock traded as high as $4.31 and last traded at $4.28. Approximately 6,767,555 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 6,194,646 shares. The stock had previously closed at $4.00.

AdvisorShares Pure US Cannabis ETF Price Performance

The stock has a market capitalization of $903.85 million, a P/E ratio of 12.20 and a beta of 1.07. The company has a fifty day moving average of $3.83 and a two-hundred day moving average of $4.24.

Institutional Trading of AdvisorShares Pure US Cannabis ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in AdvisorShares Pure US Cannabis ETF in the fourth quarter valued at about $36,000. PFS Partners LLC increased its holdings in AdvisorShares Pure US Cannabis ETF by 31.3% in the third quarter. PFS Partners LLC now owns 8,380 shares of the company’s stock valued at $40,000 after buying an additional 2,000 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in AdvisorShares Pure US Cannabis ETF during the fourth quarter worth about $48,000. NewEdge Advisors LLC raised its stake in AdvisorShares Pure US Cannabis ETF by 2,857.1% during the fourth quarter. NewEdge Advisors LLC now owns 10,350 shares of the company’s stock worth $49,000 after acquiring an additional 10,000 shares during the period. Finally, Main Street Group LTD acquired a new stake in AdvisorShares Pure US Cannabis ETF during the fourth quarter worth about $49,000.

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.