Amplify Alternative Harvest ETF (NYSEARCA:MJ) Trading Up 6.1% – Should You Buy?

Amplify Alternative Harvest ETF (NYSEARCA:MJ) rose 6.1% on Tuesday . The stock traded as high as $27.80 and last traded at $27.80. Approximately 36,770 shares changed hands during trading, a decline of 11% from the average daily volume of 41,534 shares. The stock had previously closed at $26.21.

Amplify Alternative Harvest ETF Price Performance

The stock has a market capitalization of $112.90 million, a P/E ratio of 16.86 and a beta of 1.17. The firm has a 50-day simple moving average of $24.96 and a 200 day simple moving average of $25.18.

Institutional Trading of Amplify Alternative Harvest ETF

A hedge fund recently raised its position in Amplify Alternative Harvest ETF stock. Cetera Investment Advisers raised its stake in Amplify Alternative Harvest ETF (NYSEARCA:MJ) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,028 shares of the company’s stock after buying an additional 680 shares during the period. Cetera Investment Advisers owned about 0.32% of Amplify Alternative Harvest ETF worth $369,000 as of its most recent SEC filing.

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.