AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Trading Up 14.1% – Time to Buy?

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO)’s share price rose 14.1% during trading on Tuesday . The company traded as high as $4.18 and last traded at $4.12. Approximately 266,885 shares were traded during mid-day trading, an increase of 253% from the average daily volume of 75,511 shares. The stock had previously closed at $3.61.

AdvisorShares Pure Cannabis ETF Price Performance

The company has a 50 day moving average price of $3.15 and a two-hundred day moving average price of $2.81. The stock has a market cap of $52.61 million, a PE ratio of 21.88 and a beta of 1.38.

Hedge Funds Weigh In On AdvisorShares Pure Cannabis ETF

A number of hedge funds have recently bought and sold shares of YOLO. Heritage Oak Wealth Advisors LLC boosted its holdings in shares of AdvisorShares Pure Cannabis ETF by 22.0% during the 2nd quarter. Heritage Oak Wealth Advisors LLC now owns 934,599 shares of the company’s stock valued at $1,771,000 after acquiring an additional 168,409 shares during the last quarter. Wealthfront Advisers LLC lifted its position in AdvisorShares Pure Cannabis ETF by 316.0% during the third quarter. Wealthfront Advisers LLC now owns 415,951 shares of the company’s stock valued at $1,468,000 after purchasing an additional 315,972 shares during the period. OLD Mission Capital LLC boosted its holdings in AdvisorShares Pure Cannabis ETF by 129.2% in the first quarter. OLD Mission Capital LLC now owns 246,245 shares of the company’s stock worth $436,000 after purchasing an additional 138,799 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in AdvisorShares Pure Cannabis ETF in the first quarter worth approximately $411,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in AdvisorShares Pure Cannabis ETF in the 3rd quarter worth approximately $818,000.

About AdvisorShares Pure Cannabis ETF

The AdvisorShares Pure Cannabis ETF (YOLO) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed ETF that seeks long-term capital appreciation by investing in both domestic and foreign cannabis equities, as well as total return swaps of similar securities.