Amplify Alternative Harvest ETF (NYSEARCA:MJ) Stock Price Up 6.1% – Still a Buy?

Amplify Alternative Harvest ETF (NYSEARCA:MJ) shares traded up 6.1% on Tuesday . The stock traded as high as $27.80 and last traded at $27.80. Approximately 36,770 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 41,534 shares. The stock had previously closed at $26.21.

Amplify Alternative Harvest ETF Price Performance

The company’s fifty day simple moving average is $24.88 and its 200-day simple moving average is $25.15. The firm has a market capitalization of $115.93 million, a PE ratio of 16.86 and a beta of 1.17.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Amplify Alternative Harvest ETF stock. Cetera Investment Advisers raised its holdings in Amplify Alternative Harvest ETF (NYSEARCA:MJ) by 4.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,028 shares of the company’s stock after buying an additional 680 shares during the quarter. Cetera Investment Advisers owned about 0.32% of Amplify Alternative Harvest ETF worth $369,000 at the end of the most recent reporting period.

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.