AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Sees Unusually-High Trading Volume – Still a Buy?

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) shares saw strong trading volume on Wednesday . Approximately 30,086 shares changed hands during trading, a decline of 33% from the previous session’s volume of 45,077 shares.The stock last traded at $2.99 and had previously closed at $3.05.

AdvisorShares Pure Cannabis ETF Stock Performance

The firm has a market cap of $358.79 billion, a P/E ratio of 21.88 and a beta of 1.31. The company’s 50 day moving average is $2.82 and its 200 day moving average is $2.87.

Hedge Funds Weigh In On AdvisorShares Pure Cannabis ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Kingsbury Capital Investment Advisors LLC bought a new position in AdvisorShares Pure Cannabis ETF in the second quarter valued at about $30,000. Sankala Group LLC acquired a new stake in AdvisorShares Pure Cannabis ETF during the 4th quarter worth approximately $40,000. Advisory Alpha LLC bought a new position in shares of AdvisorShares Pure Cannabis ETF during the fourth quarter valued at $57,000. Finally, Heritage Oak Wealth Advisors LLC lifted its holdings in shares of AdvisorShares Pure Cannabis ETF by 5.2% during the first quarter. Heritage Oak Wealth Advisors LLC now owns 626,886 shares of the company’s stock worth $1,649,000 after purchasing an additional 31,218 shares during the period.

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.