AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Hits New 52-Week Low – Time to Sell?

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

AdvisorShares Pure US Cannabis ETF Trading Down 27.5 %

The firm has a market cap of $577.18 million, a price-to-earnings ratio of 12.20 and a beta of 0.77. The stock’s 50 day moving average is $6.92 and its 200 day moving average is $7.56.

Institutional Trading of AdvisorShares Pure US Cannabis ETF

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its holdings in shares of AdvisorShares Pure US Cannabis ETF by 57.3% during the first quarter. Jane Street Group LLC now owns 6,059,388 shares of the company’s stock worth $60,654,000 after buying an additional 2,206,686 shares in the last quarter. Murchinson Ltd. acquired a new stake in AdvisorShares Pure US Cannabis ETF in the 2nd quarter worth about $11,721,000. JW Asset Management LLC boosted its holdings in AdvisorShares Pure US Cannabis ETF by 24.4% in the 1st quarter. JW Asset Management LLC now owns 872,283 shares of the company’s stock valued at $8,732,000 after purchasing an additional 171,281 shares during the period. Millennium Management LLC grew its position in shares of AdvisorShares Pure US Cannabis ETF by 5.2% during the 2nd quarter. Millennium Management LLC now owns 694,881 shares of the company’s stock worth $5,093,000 after purchasing an additional 34,147 shares in the last quarter. Finally, Lighthouse Investment Partners LLC increased its holdings in shares of AdvisorShares Pure US Cannabis ETF by 10.3% during the second quarter. Lighthouse Investment Partners LLC now owns 587,067 shares of the company’s stock worth $4,303,000 after purchasing an additional 55,000 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.