Amplify Alternative Harvest ETF (NYSEARCA:MJ) Shares Down 1.2% – What’s Next?

Amplify Alternative Harvest ETF (NYSEARCA:MJ)’s share price fell 1.2% on Thursday . The stock traded as low as $2.50 and last traded at $2.54. 1,189,640 shares traded hands during mid-day 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 Price Performance

The firm has a 50 day moving average of $3.12 and a 200-day moving average of $3.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MJ. Signature Estate & Investment Advisors LLC bought a new position in Amplify Alternative Harvest ETF in the second quarter valued at approximately $152,000. International Assets Investment Management LLC increased its stake in shares of Amplify Alternative Harvest ETF by 31.5% in the 2nd quarter. International Assets Investment Management LLC now owns 13,495 shares of the company’s stock valued at $45,000 after purchasing an additional 3,236 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Amplify Alternative Harvest ETF by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 252,953 shares of the company’s stock worth $840,000 after buying an additional 4,262 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of Amplify Alternative Harvest ETF during the 2nd quarter worth $42,000. Finally, Wealth Alliance boosted its stake in Amplify Alternative Harvest ETF by 24.2% in the second quarter. Wealth Alliance now owns 33,347 shares of the company’s stock valued at $111,000 after buying an additional 6,490 shares in 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.