AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Reaches New 52-Week Low – Here’s What Happened

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.01 and last traded at $5.13, with a volume of 2471780 shares trading hands. The stock had previously closed at $6.87.

AdvisorShares Pure US Cannabis ETF Stock Down 5.5 %

The firm has a fifty day simple moving average of $6.88 and a 200-day simple moving average of $7.52. The company has a market cap of $571.97 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 have recently modified their holdings of the business. Truist Financial Corp increased its position in AdvisorShares Pure US Cannabis ETF by 8.3% in the 2nd quarter. Truist Financial Corp now owns 37,728 shares of the company’s stock valued at $277,000 after acquiring an additional 2,906 shares during the period. Clear Harbor Asset Management LLC increased its holdings in shares of AdvisorShares Pure US Cannabis ETF by 26.7% in the third quarter. Clear Harbor Asset Management LLC now owns 28,500 shares of the company’s stock valued at $204,000 after purchasing an additional 6,000 shares during the period. Horrell Capital Management Inc. raised its stake in shares of AdvisorShares Pure US Cannabis ETF by 29.2% during the third quarter. Horrell Capital Management Inc. now owns 27,269 shares of the company’s stock worth $196,000 after purchasing an additional 6,162 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 218,084 shares of the company’s stock worth $1,599,000 after purchasing an additional 6,758 shares during the period. Finally, Avantax Advisory Services Inc. grew its position in AdvisorShares Pure US Cannabis ETF by 34.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 31,855 shares of the company’s stock valued at $319,000 after buying an additional 8,085 shares during the last quarter.

About AdvisorShares Pure US Cannabis ETF

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.