AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Trading Down 9.6%

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s stock price dropped 9.6% during mid-day trading on Friday . The stock traded as low as $8.61 and last traded at $8.71. Approximately 9,247,153 shares changed hands during trading, an increase of 11% from the average daily volume of 8,353,095 shares. The stock had previously closed at $9.63.

AdvisorShares Pure US Cannabis ETF Stock Performance

The firm has a 50-day moving average of $9.17 and a 200-day moving average of $7.86.

Hedge Funds Weigh In On AdvisorShares Pure US Cannabis ETF

Several institutional investors have recently added to or reduced their stakes in the company. Northside Capital Management LLC purchased a new position in AdvisorShares Pure US Cannabis ETF during the 1st quarter valued at approximately $253,000. Biltmore Family Office LLC boosted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 145.9% in the 4th quarter. Biltmore Family Office LLC now owns 390,777 shares of the company’s stock worth $2,739,000 after purchasing an additional 231,887 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 7.2% in the 4th quarter. Kestra Advisory Services LLC now owns 108,763 shares of the company’s stock worth $762,000 after purchasing an additional 7,352 shares during the period. Creative Planning boosted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 10,897.0% in the 4th quarter. Creative Planning now owns 44,538 shares of the company’s stock worth $312,000 after purchasing an additional 44,133 shares during the period. Finally, Eminence Capital LP boosted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 8.2% in the 4th quarter. Eminence Capital LP now owns 6,496,078 shares of the company’s stock worth $45,538,000 after purchasing an additional 493,042 shares during the period.

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.