AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Shares Shorted: Short Interest Up 59.5% in September

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 173,490 shares, an increase of 59.5% from the August 31st total of 108,803 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 31,433 shares, the days-to-cover ratio is currently 5.5 days.

Hedge Funds Weigh In On AdvisorShares Pure Cannabis ETF

Hedge funds have recently modified their holdings of the stock. Kingsbury Capital Investment Advisors LLC acquired a new stake in AdvisorShares Pure Cannabis ETF in the 2nd quarter valued at $30,000. Sankala Group LLC acquired a new position in AdvisorShares Pure Cannabis ETF during the fourth quarter worth $40,000. Finally, Heritage Oak Wealth Advisors LLC raised its stake in AdvisorShares Pure Cannabis ETF by 5.2% during the first quarter. Heritage Oak Wealth Advisors LLC now owns 626,886 shares of the company’s stock worth $1,649,000 after acquiring an additional 31,218 shares in the last quarter.

AdvisorShares Pure Cannabis ETF Trading Down 6.1%

NYSEARCA:YOLO traded down $0.19 during mid-day trading on Wednesday, hitting $2.91. The company’s stock had a trading volume of 20,212 shares, compared to its average volume of 45,001. The company has a market capitalization of $33.49 million, a price-to-earnings ratio of 21.88 and a beta of 1.31. AdvisorShares Pure Cannabis ETF has a fifty-two week low of $2.39 and a fifty-two week high of $4.53. The stock has a fifty day moving average of $2.91 and a 200-day moving average of $2.89.

AdvisorShares Pure Cannabis ETF Company Profile

The AdvisorShares Pure Cannabis ETF (YOLO) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund is an actively-managed ETF that seeks long-term capital appreciation by investing in both domestic and foreign cannabis equities, as well as total return swaps of similar securities. YOLO was launched on Apr 17, 2019 and is managed by AdvisorShares.