Amplify Alternative Harvest ETF Sees Unusually Large Options Volume (NYSEARCA:MJ)

Amplify Alternative Harvest ETF (NYSEARCA:MJ) was the recipient of some unusual options trading activity on Monday. Investors acquired 3,118 put options on the company. This is an increase of 117% compared to the typical daily volume of 1,436 put options.

Amplify Alternative Harvest ETF Stock Performance

NYSEARCA:MJ opened at $3.73 on Tuesday. The firm’s fifty day simple moving average is $3.69 and its 200 day simple moving average is $3.40. Amplify Alternative Harvest ETF has a twelve month low of $2.64 and a twelve month high of $4.70.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Amplify Alternative Harvest ETF by 56.4% during the first quarter. JPMorgan Chase & Co. now owns 41,697 shares of the company’s stock valued at $432,000 after purchasing an additional 15,034 shares during the period. Raymond James & Associates increased its stake in Amplify Alternative Harvest ETF by 21.9% during the 1st quarter. Raymond James & Associates now owns 267,670 shares of the company’s stock worth $2,776,000 after buying an additional 48,168 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Amplify Alternative Harvest ETF during the 1st quarter worth $107,000. Bank of Montreal Can lifted its holdings in Amplify Alternative Harvest ETF by 46.6% in the 1st quarter. Bank of Montreal Can now owns 185,044 shares of the company’s stock worth $2,012,000 after buying an additional 58,786 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in Amplify Alternative Harvest ETF by 7.9% in the 1st quarter. Cetera Investment Advisers now owns 24,588 shares of the company’s stock valued at $255,000 after buying an additional 1,799 shares during the last quarter.

About Amplify Alternative Harvest ETF

The ETFMG Alternative Harvest ETF (MJ) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund tracks an index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products. The portfolio is weighted by market cap or equally based on a proprietary system.