AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Down 8.8% – Here’s What Happened

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) shares dropped 8.8% during mid-day trading on Monday . The stock traded as low as $4.43 and last traded at $4.46. Approximately 7,937,719 shares traded hands during trading, a decline of 15% from the average daily volume of 9,288,174 shares. The stock had previously closed at $4.89.

AdvisorShares Pure US Cannabis ETF Trading Up 10.0 %

The company’s 50-day moving average is $6.77 and its 200 day moving average is $7.42. The stock has a market capitalization of $601.52 million, a PE ratio of 12.20 and a beta of 0.77.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSOS. JW Asset Management LLC grew its stake in AdvisorShares Pure US Cannabis ETF by 31.4% during the 3rd quarter. JW Asset Management LLC now owns 1,093,369 shares of the company’s stock valued at $7,839,000 after purchasing an additional 261,086 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in AdvisorShares Pure US Cannabis ETF in the third quarter valued at approximately $163,000. Horrell Capital Management Inc. increased its holdings in AdvisorShares Pure US Cannabis ETF by 29.2% in the 3rd quarter. Horrell Capital Management Inc. now owns 27,269 shares of the company’s stock worth $196,000 after buying an additional 6,162 shares during the period. Pallas Capital Advisors LLC purchased a new position in AdvisorShares Pure US Cannabis ETF during the 3rd quarter worth approximately $83,000. Finally, Clear Harbor Asset Management LLC lifted its stake in AdvisorShares Pure US Cannabis ETF by 26.7% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 28,500 shares of the company’s stock valued at $204,000 after acquiring an additional 6,000 shares during the period.

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.