Shares of Global X Cannabis ETF (NASDAQ:POTX – Get Rating) were down 2.7% during mid-day trading on Wednesday . The company traded as low as $8.22 and last traded at $8.28. Approximately 6,765 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 27,235 shares. The stock had previously closed at $8.51.
Global X Cannabis ETF Stock Performance
The company’s fifty day moving average is $8.32 and its two-hundred day moving average is $9.21. The company has a market cap of $32.34 million, a price-to-earnings ratio of -0.91 and a beta of 1.56.
Institutional Investors Weigh In On Global X Cannabis ETF
Several hedge funds have recently added to or reduced their stakes in POTX. IHT Wealth Management LLC grew its stake in shares of Global X Cannabis ETF by 55.5% during the 1st quarter. IHT Wealth Management LLC now owns 71,037 shares of the company’s stock worth $388,000 after purchasing an additional 25,366 shares during the period. Jane Street Group LLC acquired a new stake in Global X Cannabis ETF during the first quarter valued at $595,000. PFG Investments LLC purchased a new position in Global X Cannabis ETF in the first quarter valued at $542,000. Captrust Financial Advisors raised its position in shares of Global X Cannabis ETF by 16.7% in the second quarter. Captrust Financial Advisors now owns 36,171 shares of the company’s stock worth $252,000 after acquiring an additional 5,164 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Global X Cannabis ETF by 11.4% during the 4th quarter. LPL Financial LLC now owns 32,109 shares of the company’s stock worth $357,000 after acquiring an additional 3,281 shares in the last quarter.
About Global X Cannabis ETF
The Global X Cannabis ETF (POTX) is an exchange-traded fund that is based on the Cannabis index. The fund tracks an index of developed market companies related to cannabis, hemp & CBD. POTX was launched on Sep 17, 2019 and is managed by Global X.
Further Reading
- Get a free copy of the StockNews.com research report on Global X Cannabis ETF (POTX)
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