Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Down 2% – Here’s What Happened

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s stock price was down 2% during mid-day trading on Tuesday . The stock traded as low as $25.59 and last traded at $25.82. 63,684 shares traded hands during trading, an increase of 51% from the average daily volume of 42,184 shares. The stock had previously closed at $26.35.

Amplify Alternative Harvest ETF Stock Up 0.3%

The business has a 50 day simple moving average of $24.44 and a 200 day simple moving average of $25.12. The company has a market capitalization of $115.32 million, a PE ratio of 16.86 and a beta of 1.14.

Hedge Funds Weigh In On Amplify Alternative Harvest ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC raised its stake in shares of Amplify Alternative Harvest ETF by 42.3% during the 1st quarter. Jane Street Group LLC now owns 182,616 shares of the company’s stock valued at $3,561,000 after buying an additional 54,316 shares during the last quarter. OLD Mission Capital LLC lifted its position in shares of Amplify Alternative Harvest ETF by 65.5% in the fourth quarter. OLD Mission Capital LLC now owns 108,013 shares of the company’s stock valued at $3,218,000 after acquiring an additional 42,752 shares in the last quarter. UBS Group AG lifted its position in shares of Amplify Alternative Harvest ETF by 9.3% in the third quarter. UBS Group AG now owns 19,805 shares of the company’s stock valued at $740,000 after acquiring an additional 1,681 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Amplify Alternative Harvest ETF by 4.4% in the first quarter. Cetera Investment Advisers now owns 16,028 shares of the company’s stock worth $369,000 after acquiring an additional 680 shares during the last quarter. Finally, Group One Trading LLC acquired a new stake in shares of Amplify Alternative Harvest ETF in the third quarter worth approximately $379,000.

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. MJ was launched on Dec 2, 2015 and is managed by ETF Managers Group.