Global X Cannabis ETF (NASDAQ:POTX) Short Interest Update

Global X Cannabis ETF (NASDAQ:POTXGet Rating) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 364,100 shares, a decline of 51.4% from the April 30th total of 748,800 shares. Based on an average daily volume of 192,700 shares, the days-to-cover ratio is currently 1.9 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in shares of Global X Cannabis ETF by 58.8% in the first quarter. Morgan Stanley now owns 2,700 shares of the company’s stock worth $43,000 after acquiring an additional 1,000 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of Global X Cannabis ETF by 10.2% in the third quarter. Advisor Group Holdings Inc. now owns 32,763 shares of the company’s stock worth $293,000 after acquiring an additional 3,022 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Global X Cannabis ETF by 16.7% in the third quarter. Captrust Financial Advisors now owns 46,050 shares of the company’s stock worth $412,000 after acquiring an additional 6,593 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Global X Cannabis ETF by 3,014.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 371,156 shares of the company’s stock worth $2,160,000 after acquiring an additional 359,240 shares in the last quarter. Finally, Edge Capital Group LLC purchased a new position in shares of Global X Cannabis ETF in the fourth quarter worth approximately $158,000.

NASDAQ POTX opened at $3.56 on Friday. The company’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $5.48. Global X Cannabis ETF has a 12 month low of $3.20 and a 12 month high of $16.47.

Shares of Global X Cannabis ETF are going to reverse split before the market opens on Thursday, June 9th. The 1-6 reverse split was announced on Thursday, June 9th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, June 9th.

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