Kingsview Wealth Management LLC Invests $5.98 Million in AdvisorShares Pure US Cannabis ETF $MSOS

Kingsview Wealth Management LLC bought a new position in shares of AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,266,008 shares of the company’s stock, valued at approximately $5,976,000. Kingsview Wealth Management LLC owned 0.64% of AdvisorShares Pure US Cannabis ETF at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Suvretta Capital Management LLC bought a new stake in shares of AdvisorShares Pure US Cannabis ETF during the 3rd quarter worth $34,330,000. Clear Street Group Inc. bought a new stake in shares of AdvisorShares Pure US Cannabis ETF during the 3rd quarter worth $32,633,000. AdvisorShares Investments LLC raised its stake in shares of AdvisorShares Pure US Cannabis ETF by 15.3% during the 3rd quarter. AdvisorShares Investments LLC now owns 3,759,593 shares of the company’s stock worth $18,008,000 after purchasing an additional 500,100 shares during the period. Group One Trading LLC raised its stake in shares of AdvisorShares Pure US Cannabis ETF by 153.4% during the 2nd quarter. Group One Trading LLC now owns 1,264,841 shares of the company’s stock worth $3,048,000 after purchasing an additional 765,690 shares during the period. Finally, Rovida Advisors Inc. raised its stake in shares of AdvisorShares Pure US Cannabis ETF by 20.0% during the 3rd quarter. Rovida Advisors Inc. now owns 1,200,000 shares of the company’s stock worth $5,796,000 after purchasing an additional 200,000 shares during the period.

AdvisorShares Pure US Cannabis ETF Stock Down 3.9%

Shares of MSOS stock opened at $4.92 on Friday. The company has a 50 day moving average of $4.33 and a 200-day moving average of $4.24. AdvisorShares Pure US Cannabis ETF has a 12-month low of $2.06 and a 12-month high of $7.25. The firm has a market cap of $1.02 billion, a P/E ratio of 12.20 and a beta of 1.35.

About AdvisorShares Pure US Cannabis ETF

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.