AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Short Interest Up 35.8% in March

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 30,201 shares, an increase of 35.8% from the February 26th total of 22,245 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 35,301 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On AdvisorShares Pure Cannabis ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC lifted its holdings in shares of AdvisorShares Pure Cannabis ETF by 316.0% during the 3rd quarter. Wealthfront Advisers LLC now owns 415,951 shares of the company’s stock valued at $1,468,000 after buying an additional 315,972 shares during the period. Jane Street Group LLC boosted its stake in shares of AdvisorShares Pure Cannabis ETF by 543.0% in the 4th quarter. Jane Street Group LLC now owns 284,100 shares of the company’s stock worth $938,000 after buying an additional 239,914 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of AdvisorShares Pure Cannabis ETF in the third quarter worth $818,000. Geneos Wealth Management Inc. grew its holdings in shares of AdvisorShares Pure Cannabis ETF by 1,252.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 50,860 shares of the company’s stock worth $168,000 after acquiring an additional 47,100 shares during the period. Finally, Advisory Alpha LLC purchased a new stake in AdvisorShares Pure Cannabis ETF during the fourth quarter valued at $57,000.

AdvisorShares Pure Cannabis ETF Stock Down 2.4%

YOLO opened at $2.48 on Tuesday. The stock has a market capitalization of $31.15 million, a price-to-earnings ratio of 21.88 and a beta of 1.38. The firm has a 50 day moving average price of $2.91 and a 200-day moving average price of $3.12. AdvisorShares Pure Cannabis ETF has a twelve month low of $1.45 and a twelve month high of $4.53.

About AdvisorShares Pure Cannabis ETF

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.