Amplify Alternative Harvest ETF (NYSEARCA:MJ) Stock Price Up 0.6% – Here’s Why

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s share price rose 0.6% during trading on Wednesday . The company traded as high as $26.26 and last traded at $25.58. Approximately 21,413 shares changed hands during trading, a decline of 57% from the average daily volume of 50,294 shares. The stock had previously closed at $25.43.

Amplify Alternative Harvest ETF Stock Performance

The stock has a 50 day moving average price of $29.66 and a 200 day moving average price of $30.92. The company has a market capitalization of $127.13 million, a P/E ratio of 16.86 and a beta of 1.24.

Institutional Investors Weigh In On Amplify Alternative Harvest ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlantic Union Bankshares Corp bought a new stake in Amplify Alternative Harvest ETF during the third quarter worth about $35,000. PenderFund Capital Management Ltd. purchased a new position in shares of Amplify Alternative Harvest ETF during the fourth quarter valued at approximately $36,000. Kestra Advisory Services LLC bought a new stake in shares of Amplify Alternative Harvest ETF in the 4th quarter worth approximately $60,000. Simplex Trading LLC boosted its position in shares of Amplify Alternative Harvest ETF by 79.3% in the 2nd quarter. Simplex Trading LLC now owns 2,858 shares of the company’s stock worth $51,000 after purchasing an additional 1,264 shares in the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new stake in shares of Amplify Alternative Harvest ETF in the 4th quarter worth approximately $95,000.

About Amplify Alternative Harvest ETF

The ETFMG Alternative Harvest ETF (MJ) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund tracks an index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products. The portfolio is weighted by market cap or equally based on a proprietary system. MJ was launched on Dec 2, 2015 and is managed by ETF Managers Group.