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

Shares of 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 Price Performance

The company’s 50 day moving average price is $6.88 and its 200 day moving average price is $7.52. The firm has a market cap of $571.97 million, a PE ratio of 12.20 and a beta of 0.77.

Institutional Trading of AdvisorShares Pure US Cannabis ETF

Several hedge funds have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. acquired a new stake in AdvisorShares Pure US Cannabis ETF in the third quarter valued at $163,000. Horrell Capital Management Inc. raised its position in shares of AdvisorShares Pure US Cannabis ETF by 29.2% during the 3rd quarter. Horrell Capital Management Inc. now owns 27,269 shares of the company’s stock worth $196,000 after acquiring an additional 6,162 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in AdvisorShares Pure US Cannabis ETF during the third quarter worth approximately $83,000. Clear Harbor Asset Management LLC boosted its holdings in 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 in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in AdvisorShares Pure US Cannabis ETF by 11.1% in the third quarter. Bleakley Financial Group LLC now owns 167,224 shares of the company’s stock valued at $1,199,000 after purchasing an additional 16,647 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.