Global X Cannabis ETF (NASDAQ:POTX) Trading Down 2.7%

Global X Cannabis ETF (NASDAQ:POTX – Get Rating)’s share price dropped 2.7% on Wednesday . The stock traded as low as $8.22 and last traded at $8.28. Approximately 6,765 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 27,235 shares. The stock had previously closed at $8.51.

Global X Cannabis ETF Trading Down 4.6 %

The company has a fifty day moving average price of $8.32 and a two-hundred day moving average price of $9.21. The firm has a market capitalization of $32.34 million, a PE ratio of -0.91 and a beta of 1.56.

Hedge Funds Weigh In On Global X Cannabis ETF

A number of institutional investors have recently modified their holdings of the business. UBS Group AG grew its holdings in shares of Global X Cannabis ETF by 5,250.0% during the fourth quarter. UBS Group AG now owns 2,675 shares of the company’s stock worth $30,000 after buying an additional 2,625 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Global X Cannabis ETF during the first quarter worth about $57,000. TCP Asset Management LLC purchased a new position in shares of Global X Cannabis ETF during the first quarter worth about $91,000. Oppenheimer & Co. Inc. purchased a new position in shares of Global X Cannabis ETF during the first quarter worth about $94,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Global X Cannabis ETF by 15.4% during the third quarter. Commonwealth Equity Services LLC now owns 11,965 shares of the company’s stock worth $163,000 after purchasing an additional 1,595 shares during the period.

About Global X Cannabis ETF

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The Global X Cannabis ETF (POTX) is an exchange-traded fund that is based on the Cannabis index. The fund tracks an index of developed market companies related to cannabis, hemp & CBD. POTX was launched on Sep 17, 2019 and is managed by Global X.