AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Gap Up – What’s Next?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) gapped up prior to trading on Thursday . The stock had previously closed at $5.11, but opened at $5.58. AdvisorShares Pure US Cannabis ETF shares last traded at $4.86, with a volume of 15,852,038 shares traded.

AdvisorShares Pure US Cannabis ETF Trading Up 10.9%

The stock has a market cap of $952.71 million, a P/E ratio of 12.20 and a beta of 1.07. The firm’s 50-day simple moving average is $3.88 and its 200 day simple moving average is $4.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Heritage Oak Wealth Advisors LLC grew its position in AdvisorShares Pure US Cannabis ETF by 10.8% in the 1st quarter. Heritage Oak Wealth Advisors LLC now owns 44,706 shares of the company’s stock worth $159,000 after purchasing an additional 4,374 shares during the last quarter. Janney Montgomery Scott LLC grew its position in AdvisorShares Pure US Cannabis ETF by 17.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 73,905 shares of the company’s stock worth $262,000 after purchasing an additional 10,775 shares during the last quarter. apricus wealth LLC bought a new position in AdvisorShares Pure US Cannabis ETF in the 1st quarter worth about $36,000. Ground Swell Capital LLC bought a new position in AdvisorShares Pure US Cannabis ETF in the 1st quarter worth about $61,000. Finally, Corient Private Wealth LLC grew its position in AdvisorShares Pure US Cannabis ETF by 96.5% in the 4th quarter. Corient Private Wealth LLC now owns 72,946 shares of the company’s stock worth $344,000 after purchasing an additional 35,825 shares during the last quarter.

AdvisorShares Pure US Cannabis ETF Company Profile

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.