Amplify Alternative Harvest ETF (NYSEARCA:MJ) Stock Price Up 0.7% – Time to Buy?

Amplify Alternative Harvest ETF (NYSEARCA:MJ) was up 0.7% on Wednesday . The company traded as high as $25.39 and last traded at $25.18. Approximately 12,972 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 50,580 shares. The stock had previously closed at $25.01.

Amplify Alternative Harvest ETF Stock Performance

The company has a 50 day moving average of $27.37 and a 200-day moving average of $30.56. The stock has a market cap of $125.14 million, a price-to-earnings ratio of 16.86 and a beta of 1.24.

Hedge Funds Weigh In On Amplify Alternative Harvest ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its holdings in Amplify Alternative Harvest ETF by 42.3% in the first quarter. Jane Street Group LLC now owns 182,616 shares of the company’s stock valued at $3,561,000 after acquiring an additional 54,316 shares in the last quarter. Simplex Trading LLC grew its holdings in Amplify Alternative Harvest ETF by 79.3% during the 2nd quarter. Simplex Trading LLC now owns 2,858 shares of the company’s stock worth $51,000 after acquiring an additional 1,264 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Amplify Alternative Harvest ETF in the 2nd quarter valued at approximately $58,000. Wedmont Private Capital purchased a new stake in shares of Amplify Alternative Harvest ETF in the 3rd quarter valued at approximately $283,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Amplify Alternative Harvest ETF in the 3rd quarter valued at $307,000.

Amplify Alternative Harvest ETF Company Profile

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.