AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Stock Price Down 4.7% – Should You Sell?

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO)’s stock price fell 4.7% during trading on Thursday . The stock traded as low as $2.81 and last traded at $2.81. 50,390 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 57,429 shares. The stock had previously closed at $2.95.

AdvisorShares Pure Cannabis ETF Trading Down 4.7%

The firm has a market cap of $35.29 million, a P/E ratio of 21.88 and a beta of 1.38. The company’s fifty day moving average price is $3.22 and its two-hundred day moving average price is $3.13.

Institutional Trading of AdvisorShares Pure Cannabis ETF

Hedge funds have recently modified their holdings of the company. Wealthfront Advisers LLC lifted its position in shares of AdvisorShares Pure Cannabis ETF by 316.0% during the third quarter. Wealthfront Advisers LLC now owns 415,951 shares of the company’s stock worth $1,468,000 after purchasing an additional 315,972 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in AdvisorShares Pure Cannabis ETF in the 3rd quarter worth approximately $818,000. Geneos Wealth Management Inc. raised its position in AdvisorShares Pure Cannabis ETF by 1,252.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 50,860 shares of the company’s stock worth $168,000 after purchasing an additional 47,100 shares during the last quarter. Jane Street Group LLC boosted its position in AdvisorShares Pure Cannabis ETF by 23.8% in the 2nd quarter. Jane Street Group LLC now owns 141,248 shares of the company’s stock valued at $268,000 after buying an additional 27,153 shares during the last quarter. Finally, CWM LLC bought a new position in AdvisorShares Pure Cannabis ETF in the 4th quarter valued at $26,000.

AdvisorShares Pure Cannabis ETF Company Profile

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. YOLO was launched on Apr 17, 2019 and is managed by AdvisorShares.