Stock Traders Buy High Volume of Call Options on AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 44,062 call options on the company. This is an increase of approximately 81% compared to the typical daily volume of 24,394 call options.

AdvisorShares Pure US Cannabis ETF Price Performance

AdvisorShares Pure US Cannabis ETF stock traded up $0.24 during midday trading on Wednesday, reaching $3.02. The company had a trading volume of 13,425,810 shares, compared to its average volume of 5,186,395. AdvisorShares Pure US Cannabis ETF has a 12-month low of $2.75 and a 12-month high of $11.36. The firm’s fifty day simple moving average is $3.49 and its 200-day simple moving average is $5.08. The company has a market capitalization of $412.54 million, a P/E ratio of 12.20 and a beta of 1.29.

Institutional Investors Weigh In On AdvisorShares Pure US Cannabis ETF

A number of hedge funds have recently modified their holdings of MSOS. Clear Street Derivatives LLC acquired a new position in AdvisorShares Pure US Cannabis ETF during the third quarter worth about $49,437,000. Oasis Management Co Ltd. purchased a new position in AdvisorShares Pure US Cannabis ETF in the 4th quarter worth approximately $15,572,000. Alyeska Investment Group L.P. purchased a new position in AdvisorShares Pure US Cannabis ETF in the 4th quarter worth approximately $11,107,000. Quinn Opportunity Partners LLC boosted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 1,299.9% during the 4th quarter. Quinn Opportunity Partners LLC now owns 2,869,825 shares of the company’s stock worth $10,934,000 after purchasing an additional 2,664,825 shares during the last quarter. Finally, AdvisorShares Investments LLC grew its position in shares of AdvisorShares Pure US Cannabis ETF by 0.6% in the fourth quarter. AdvisorShares Investments LLC now owns 2,864,453 shares of the company’s stock valued at $10,914,000 after purchasing an additional 16,635 shares in the last quarter.

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.