Cambria Cannabis ETF (BATS:TOKE) Trading 19.2% Higher – Still a Buy?

Cambria Cannabis ETF (BATS:TOKE)’s share price traded up 19.2% on Friday . The company traded as high as $4.98 and last traded at $5.82. 8,483 shares were traded during mid-day trading, a decline of 60% from the average session volume of 21,078 shares. The stock had previously closed at $4.8842.

Cambria Cannabis ETF Trading Up 19.2%

The stock has a market capitalization of $14.84 million, a P/E ratio of 15.43 and a beta of 1.02. The business’s fifty day simple moving average is $5.94 and its two-hundred day simple moving average is $5.45.

Cambria Cannabis ETF Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Thursday, September 18th were issued a dividend of $0.0217 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, September 18th.

Hedge Funds Weigh In On Cambria Cannabis ETF

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of Cambria Cannabis ETF in the third quarter valued at about $35,000. Griffin Asset Management Inc. bought a new position in shares of Cambria Cannabis ETF during the third quarter worth about $271,000. OLD Mission Capital LLC raised its position in Cambria Cannabis ETF by 63.3% in the 1st quarter. OLD Mission Capital LLC now owns 120,157 shares of the company’s stock valued at $541,000 after buying an additional 46,587 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Cambria Cannabis ETF by 40.6% in the 2nd quarter. Jane Street Group LLC now owns 164,603 shares of the company’s stock valued at $737,000 after acquiring an additional 47,557 shares in the last quarter.

Cambria Cannabis ETF Company Profile

The Cambria Cannabis ETF (TOKE) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed portfolio of globally-listed companies related to cannabis and hemp. TOKE was launched on Jul 25, 2019 and is managed by Cambria.