AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Gap Down to $7.04

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $7.04, but opened at $6.28. AdvisorShares Pure US Cannabis ETF shares last traded at $6.32, with a volume of 3,008,696 shares trading hands.

AdvisorShares Pure US Cannabis ETF Stock Performance

The firm has a market cap of $701.20 million, a PE ratio of 12.20 and a beta of 0.77. The firm’s 50 day moving average price is $7.31 and its two-hundred day moving average price is $8.30.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

Hedge funds have recently made changes to their positions in the stock. Heritage Oak Wealth Advisors LLC acquired a new stake in AdvisorShares Pure US Cannabis ETF during the 2nd quarter worth approximately $1,937,000. Truist Financial Corp lifted its holdings in AdvisorShares Pure US Cannabis ETF by 8.3% during the 2nd quarter. Truist Financial Corp now owns 37,728 shares of the company’s stock worth $277,000 after buying an additional 2,906 shares in the last quarter. Murchinson Ltd. acquired a new stake in AdvisorShares Pure US Cannabis ETF during the 2nd quarter worth approximately $11,721,000. Lighthouse Investment Partners LLC lifted its holdings in AdvisorShares Pure US Cannabis ETF by 10.3% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 587,067 shares of the company’s stock worth $4,303,000 after buying an additional 55,000 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in AdvisorShares Pure US Cannabis ETF by 5.2% during the 2nd quarter. Millennium Management LLC now owns 694,881 shares of the company’s stock worth $5,093,000 after buying an additional 34,147 shares in the last quarter.

AdvisorShares Pure US Cannabis ETF Company Profile

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.