AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Shares Down 4.7% – Time to Sell?

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO)’s share price fell 4.7% on Thursday . The stock traded as low as $2.81 and last traded at $2.81. 50,390 shares changed hands during 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 Price Performance

The stock has a 50 day simple moving average of $3.22 and a two-hundred day simple moving average of $3.13. The company has a market cap of $35.29 million, a price-to-earnings ratio of 21.88 and a beta of 1.38.

Institutional Trading of AdvisorShares Pure Cannabis ETF

Hedge funds have recently made changes to their positions in the company. Wealthfront Advisers LLC increased its holdings in shares of AdvisorShares Pure Cannabis ETF by 110.6% during the 2nd quarter. Wealthfront Advisers LLC now owns 99,979 shares of the company’s stock worth $189,000 after buying an additional 52,498 shares during the last quarter. Jane Street Group LLC increased its stake in AdvisorShares Pure Cannabis ETF by 23.8% during the second quarter. Jane Street Group LLC now owns 141,248 shares of the company’s stock worth $268,000 after acquiring an additional 27,153 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in AdvisorShares Pure Cannabis ETF in the third quarter valued at $818,000. CWM LLC acquired a new position in shares of AdvisorShares Pure Cannabis ETF in the 4th quarter valued at $26,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of 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 valued at $168,000 after purchasing an additional 47,100 shares during the last quarter.

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