AdvisorShares Restaurant ETF (NYSEARCA:EATZ) Shares Up 2% – Time to Buy?

Shares of AdvisorShares Restaurant ETF (NYSEARCA:EATZ) shot up 2% during trading on Monday . The company traded as high as $30.16 and last traded at $29.99. 5,237 shares were traded during mid-day trading, an increase of 214% from the average session volume of 1,668 shares. The stock had previously closed at $29.39.

AdvisorShares Restaurant ETF Stock Up 2.0 %

The stock has a 50 day simple moving average of $27.45 and a 200 day simple moving average of $25.46. The company has a market capitalization of $3.75 million, a price-to-earnings ratio of 27.34 and a beta of 0.95.

Hedge Funds Weigh In On AdvisorShares Restaurant ETF

A hedge fund recently bought a new stake in AdvisorShares Restaurant ETF stock. Carmichael Hill & Associates Inc. purchased a new stake in shares of AdvisorShares Restaurant ETF (NYSEARCA:EATZ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,042 shares of the company’s stock, valued at approximately $81,000. Carmichael Hill & Associates Inc. owned about 2.43% of AdvisorShares Restaurant ETF at the end of the most recent quarter.

About AdvisorShares Restaurant ETF

The AdvisorShares Restaurant ETF (EATZ) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund is an actively-managed fund of US-listed companies that derive at least 50% of their net revenue from the restaurant business. EATZ was launched on Apr 20, 2021 and is managed by AdvisorShares.