Cambria Cannabis ETF (BATS:TOKE) Trading 18.6% Higher – Still a Buy?

Cambria Cannabis ETF (BATS:TOKE) shot up 18.6% during mid-day trading on Thursday . The stock traded as high as $4.98 and last traded at $5.7950. 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 18.6%

The stock has a 50-day moving average price of $5.96 and a two-hundred day moving average price of $5.90. The stock has a market cap of $14.78 million, a price-to-earnings ratio of 15.43 and a beta of 1.02.

Cambria Cannabis ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Thursday, December 18th were paid a dividend of $0.0235 per share. The ex-dividend date was Thursday, December 18th. This is a positive change from Cambria Cannabis ETF’s previous quarterly dividend of $0.02. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.6%.

Hedge Funds Weigh In On Cambria Cannabis ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its position in Cambria Cannabis ETF by 40.6% during the 2nd quarter. Jane Street Group LLC now owns 164,603 shares of the company’s stock worth $737,000 after purchasing an additional 47,557 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Cambria Cannabis ETF during the third quarter worth $35,000. Finally, Griffin Asset Management Inc. purchased a new stake in shares of Cambria Cannabis ETF during the third quarter valued at $271,000.

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.