Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Climb 5.8% – Here’s What Happened

Shares of Amplify Alternative Harvest ETF (NYSEARCA:MJ) rose 5.8% on Tuesday. The company traded as high as $24.00 and last traded at $23.66. Approximately 29,106 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 40,042 shares. The stock had previously closed at $22.37.

Amplify Alternative Harvest ETF Stock Performance

The firm’s 50 day moving average is $24.60 and its two-hundred day moving average is $25.15. The stock has a market capitalization of $102.48 million, a PE ratio of 16.86 and a beta of 1.23.

Hedge Funds Weigh In On Amplify Alternative Harvest ETF

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

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.