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

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) shares were up 7% on Monday . The stock traded as high as $4.31 and last traded at $4.28. Approximately 6,767,555 shares traded hands during 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 Stock Up 11.0%

The stock has a market cap of $903.85 million, a price-to-earnings ratio of 12.20 and a beta of 1.07. The firm’s 50 day moving average is $3.83 and its two-hundred day moving average is $4.24.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC raised its stake in AdvisorShares Pure US Cannabis ETF by 96.5% during the fourth quarter. Corient Private Wealth LLC now owns 72,946 shares of the company’s stock worth $344,000 after acquiring an additional 35,825 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in AdvisorShares Pure US Cannabis ETF during the fourth quarter worth about $119,000. Vermillion & White Wealth Management Group LLC raised its stake in AdvisorShares Pure US Cannabis ETF by 25.6% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 29,465 shares of the company’s stock worth $139,000 after acquiring an additional 6,000 shares during the period. 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, XTX Topco Ltd acquired a new stake in AdvisorShares Pure US Cannabis ETF during the fourth quarter worth about $149,000.

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.