AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) Shares Gap Down – Time to Sell?

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $5.19, but opened at $5.05. AdvisorShares Pure US Cannabis ETF shares last traded at $5.04, with a volume of 7,237,336 shares.

AdvisorShares Pure US Cannabis ETF Stock Down 4.6 %

The stock has a market capitalization of $573.71 million, a P/E ratio of 12.20 and a beta of 0.77. The firm has a 50 day simple moving average of $6.75 and a two-hundred day simple moving average of $7.40.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MSOS. Truist Financial Corp lifted its stake in AdvisorShares Pure US Cannabis ETF by 8.3% during the second quarter. Truist Financial Corp now owns 37,728 shares of the company’s stock worth $277,000 after purchasing an additional 2,906 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in AdvisorShares Pure US Cannabis ETF by 26.7% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 28,500 shares of the company’s stock worth $204,000 after purchasing an additional 6,000 shares in the last quarter. Horrell Capital Management Inc. boosted its position in 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 valued at $196,000 after acquiring an additional 6,162 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in 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 valued at $1,599,000 after buying an additional 6,758 shares during the period. Finally, Avantax Advisory Services Inc. boosted its stake in AdvisorShares Pure US Cannabis ETF by 34.0% during the first quarter. Avantax Advisory Services Inc. now owns 31,855 shares of the company’s stock worth $319,000 after acquiring an additional 8,085 shares in the last quarter.

AdvisorShares Pure US Cannabis ETF Company Profile

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.