Amplify Alternative Harvest ETF (NYSEARCA:MJ) Trading Up 1.3% – Should You Buy?

Amplify Alternative Harvest ETF (NYSEARCA:MJ) shares shot up 1.3% during mid-day trading on Monday . The company traded as high as $20.82 and last traded at $20.56. 52,145 shares were traded during mid-day trading, a decline of 32% from the average session volume of 76,402 shares. The stock had previously closed at $20.30.

Amplify Alternative Harvest ETF Price Performance

The stock’s fifty day moving average is $24.24 and its 200-day moving average is $30.84. The stock has a market cap of $118.29 million, a PE ratio of 16.72 and a beta of 1.25.

Institutional Investors Weigh In On Amplify Alternative Harvest ETF

A number of hedge funds have recently modified their holdings of MJ. Raffles Associates LP purchased a new position in Amplify Alternative Harvest ETF during the fourth quarter worth about $1,176,000. Jaffetilchin Investment Partners LLC boosted its stake in Amplify Alternative Harvest ETF by 26,197.0% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 473,083 shares of the company’s stock worth $1,060,000 after buying an additional 471,284 shares during the period. Quinn Opportunity Partners LLC boosted its stake in Amplify Alternative Harvest ETF by 26.5% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,308,825 shares of the company’s stock worth $2,932,000 after buying an additional 274,441 shares during the period. Millennium Management LLC purchased a new position in Amplify Alternative Harvest ETF during the fourth quarter worth about $494,000. Finally, Raymond James Financial Inc. purchased a new position in Amplify Alternative Harvest ETF during the fourth quarter worth about $223,000.

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.