Stock Traders Buy High Volume of Call Options on AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS)

AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 81,775 call options on the company. This represents an increase of approximately 135% compared to the average volume of 34,793 call options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MSOS. Eminence Capital LP raised its holdings in 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 acquiring an additional 493,042 shares during the period. Jane Street Group LLC raised its holdings in AdvisorShares Pure US Cannabis ETF by 57.3% in the 1st quarter. Jane Street Group LLC now owns 6,059,388 shares of the company’s stock worth $60,654,000 after acquiring an additional 2,206,686 shares during the period. Murchinson Ltd. bought a new position in AdvisorShares Pure US Cannabis ETF in the 2nd quarter worth $11,721,000. JW Asset Management LLC raised 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 worth $8,732,000 after acquiring an additional 171,281 shares during the period. Finally, Millennium Management LLC raised its holdings in AdvisorShares Pure US Cannabis ETF by 5.2% in the 2nd quarter. Millennium Management LLC now owns 694,881 shares of the company’s stock worth $5,093,000 after acquiring an additional 34,147 shares during the period.

AdvisorShares Pure US Cannabis ETF Trading Down 13.4 %

AdvisorShares Pure US Cannabis ETF stock opened at $6.10 on Wednesday. The company has a market capitalization of $706.99 million, a P/E ratio of 12.20 and a beta of 0.77. The firm’s fifty day simple moving average is $7.33 and its 200-day simple moving average is $8.32. AdvisorShares Pure US Cannabis ETF has a 1-year low of $4.79 and a 1-year high of $11.36.

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.