AdvisorShares Restaurant ETF (NYSEARCA:EATZ) Trading Up 2% – Still a Buy?

AdvisorShares Restaurant ETF (NYSEARCA:EATZ) shares shot up 2% on Monday . The company traded as high as $30.16 and last traded at $29.99. 5,237 shares traded hands during 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 Performance

The stock’s fifty day simple moving average is $27.53 and its two-hundred day simple moving average is $25.50. The stock has a market capitalization of $3.74 million, a P/E ratio of 27.34 and a beta of 0.95.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in AdvisorShares Restaurant ETF stock. Carmichael Hill & Associates Inc. purchased a new position in AdvisorShares Restaurant ETF (NYSEARCA:EATZ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,042 shares of the company’s stock, valued at approximately $81,000. Carmichael Hill & Associates Inc. owned 2.43% of AdvisorShares Restaurant ETF as of its most recent filing with the Securities and Exchange Commission.

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.