AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Down 6.6% – Time to Sell?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s share price were down 6.6% during mid-day trading on Friday . The stock traded as low as $3.67 and last traded at $3.7360. Approximately 5,520,822 shares changed hands during trading, a decline of 29% from the average daily volume of 7,775,243 shares. The stock had previously closed at $4.00.

AdvisorShares Pure US Cannabis ETF Stock Down 16.0%

The firm’s fifty day moving average price is $4.67 and its 200 day moving average price is $3.66. The stock has a market cap of $632.65 million, a PE ratio of 12.20 and a beta of 1.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PCG Wealth Advisors LLC raised its position in shares of AdvisorShares Pure US Cannabis ETF by 29.2% during the 1st quarter. PCG Wealth Advisors LLC now owns 81,433 shares of the company’s stock valued at $213,000 after buying an additional 18,388 shares in the last quarter. Proficio Capital Partners LLC raised its position in AdvisorShares Pure US Cannabis ETF by 268.7% during the first quarter. Proficio Capital Partners LLC now owns 601,946 shares of the company’s stock valued at $1,562,000 after purchasing an additional 438,677 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of AdvisorShares Pure US Cannabis ETF by 37.1% in the 1st quarter. Foundations Investment Advisors LLC now owns 27,554 shares of the company’s stock valued at $72,000 after purchasing an additional 7,459 shares during the last quarter. Monaco Asset Management SAM lifted its stake in shares of AdvisorShares Pure US Cannabis ETF by 28.1% in the 1st quarter. Monaco Asset Management SAM now owns 1,025,000 shares of the company’s stock valued at $2,675,000 after purchasing an additional 225,000 shares during the last quarter. Finally, Kazazian Asset Management LLC bought a new stake in shares of AdvisorShares Pure US Cannabis ETF in the 1st quarter valued at approximately $1,860,000.

About AdvisorShares Pure US Cannabis ETF

The AdvisorShares Pure US Cannabis ETF (MSOS) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed narrow portfolio of US stocks or swap contracts related to the domestic cannabis and hemp industry. MSOS was launched on Sep 1, 2020 and is managed by AdvisorShares.