Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Down 1.2% – Time to Sell?

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s share price fell 1.2% during trading on Thursday . The company traded as low as $2.50 and last traded at $2.54. 1,189,640 shares traded hands during trading, a decline of 36% from the average session volume of 1,851,498 shares. The stock had previously closed at $2.57.

Amplify Alternative Harvest ETF Stock Performance

The stock’s 50-day moving average is $3.12 and its 200-day moving average is $3.41.

Institutional Investors Weigh In On Amplify Alternative Harvest ETF

A number of large investors have recently made changes to their positions in the company. Pekin Hardy Strauss Inc. acquired a new stake in shares of Amplify Alternative Harvest ETF during the second quarter worth approximately $42,000. International Assets Investment Management LLC grew its holdings in shares of Amplify Alternative Harvest ETF by 31.5% during the 2nd quarter. International Assets Investment Management LLC now owns 13,495 shares of the company’s stock valued at $45,000 after acquiring an additional 3,236 shares in the last quarter. AlTi Global Inc. acquired a new position in shares of Amplify Alternative Harvest ETF in the second quarter worth $47,000. Mesirow Financial Investment Management Inc. raised its holdings in shares of Amplify Alternative Harvest ETF by 24.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,931 shares of the company’s stock worth $53,000 after acquiring an additional 3,181 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its position in Amplify Alternative Harvest ETF by 16.1% during the third quarter. CreativeOne Wealth LLC now owns 30,194 shares of the company’s stock valued at $100,000 after purchasing an additional 4,183 shares during the last quarter.

About Amplify Alternative Harvest ETF

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.