Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Up 1.1% – Time to Buy?

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s stock price shot up 1.1% during trading on Wednesday . The company traded as high as $24.27 and last traded at $24.05. Approximately 34,601 shares changed hands during trading, a decline of 22% from the average daily volume of 44,304 shares. The stock had previously closed at $23.78.

Amplify Alternative Harvest ETF Trading Up 3.3%

The company has a market cap of $121.42 million, a price-to-earnings ratio of 16.86 and a beta of 1.12. The firm has a 50-day moving average price of $26.17 and a 200 day moving average price of $26.96.

Hedge Funds Weigh In On Amplify Alternative Harvest ETF

A number of hedge funds have recently added to or reduced their stakes in the business. OLD Mission Capital LLC raised its holdings in shares of Amplify Alternative Harvest ETF by 65.5% during the fourth quarter. OLD Mission Capital LLC now owns 108,013 shares of the company’s stock worth $3,218,000 after purchasing an additional 42,752 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Amplify Alternative Harvest ETF by 8.1% in the 4th quarter. Cetera Investment Advisers now owns 15,348 shares of the company’s stock valued at $457,000 after buying an additional 1,147 shares during the period. UBS Group AG boosted its holdings in shares of Amplify Alternative Harvest ETF by 9.3% in the 3rd quarter. UBS Group AG now owns 19,805 shares of the company’s stock valued at $740,000 after buying an additional 1,681 shares during the period. Group One Trading LLC bought a new stake in shares of Amplify Alternative Harvest ETF during the 3rd quarter valued at about $379,000. Finally, Jane Street Group LLC grew its position in shares of Amplify Alternative Harvest ETF by 42.3% during the 1st quarter. Jane Street Group LLC now owns 182,616 shares of the company’s stock valued at $3,561,000 after buying an additional 54,316 shares during the last quarter.

About Amplify Alternative Harvest ETF

The ETFMG Alternative Harvest ETF (MJ) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund tracks an index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products. The portfolio is weighted by market cap or equally based on a proprietary system. MJ was launched on Dec 2, 2015 and is managed by ETF Managers Group.