Why AdvisorShares MSOS Daily Leveraged ETF (MSOX) Is Up +30% in the Last 30 Days
Key Takeaways
- MSOX, a 2x daily leveraged fund tied to the AdvisorShares Pure US Cannabis ETF (MSOS), climbed roughly 30% over the last 30 days, rebounding sharply from a late-July low.
- The advance tracked a broad U.S. cannabis recovery after the Drug Enforcement Administration (DEA) formally supported moving cannabis to a less restrictive federal classification.
- Despite the 30-day gain, MSOX remains down about 23% over the trailing three months, underscoring the fund's leveraged volatility and an earlier mid-year drawdown.
- Performance is concentrated in top U.S. multi-state operators (MSOs) — Curaleaf, Trulieve, and Green Thumb Industries — which dominate the underlying portfolio.
- As a leveraged instrument, MSOX is designed for short-term trading and can diverge materially from 2x exposure over periods longer than a single day.
AdvisorShares MSOS Daily Leveraged ETF (MSOX) Overview and Portfolio Exposure
MSOX is an actively managed, leveraged exchange-traded fund (ETF) that seeks daily investment results, before fees and expenses, corresponding to approximately two times (2x) the daily total return of the AdvisorShares Pure US Cannabis ETF (MSOS). It achieves this magnification through swap agreements on MSOS rather than direct ownership of the underlying securities. The fund launched in August 2022, carries a net expense ratio of 0.97%, and manages roughly $50 million in assets under management (AUM).
The underlying MSOS portfolio provides exposure to U.S. cannabis operators — primarily large MSOs — through a combination of direct equity positions and total-return swaps. Its largest weightings include Curaleaf, Trulieve, and Green Thumb Industries, with smaller positions in Glass House Brands, Verano Holdings, Cresco Labs, and TerrAscend. This top-heavy structure means the three largest operators account for the bulk of the fund's risk, while the 2x daily leverage amplifies both gains and losses in equal measure.
AdvisorShares MSOS Daily Leveraged ETF (MSOX) Price Performance: Last 30 Days vs. Quarter
Over the last 30 days, MSOX advanced roughly 30%, rising from about $2.40 to approximately $3.11 per share. The move was not linear: the fund staged a sharp rebound from its late-July trough, with most of the gains concentrated in the latter half of August as regulatory momentum accelerated.
The broader three-month trend tells a more volatile story. From roughly $4.04 to $3.11, MSOX is down about 23% over the trailing quarter. The fund peaked in early June near its mid-year highs, then fell sharply through July — briefly touching the $2.00 level — before the late-summer recovery. This pattern of steep drawdowns followed by rapid recoveries is characteristic of a 2x daily leveraged product tied to a high-volatility sector.
What Drove MSOX Price in the Last 30 Days
The 30-day advance was driven primarily by progress on federal cannabis rescheduling. In mid-August, the DEA filed a position supporting the move of cannabis from Schedule I to Schedule III, marking one of the strongest regulatory tailwinds the sector had seen in months. In early September, a federal appeals court rejected challenges seeking to block the rescheduling effort, further cementing investor optimism.
Fundamentals reinforced the momentum. During the second-quarter earnings season, Curaleaf reported net revenue of roughly $340 million, up 10% year over year, while Green Thumb Industries posted revenue growth of about 4.6% and returned to profitability. Trulieve became the first U.S. plant-touching cannabis company to list on the New York Stock Exchange, a milestone that improved sector visibility and institutional accessibility. Curaleaf also launched an unsolicited bid for Aurora Cannabis, signaling a new wave of industry consolidation (M&A).
What Drove MSOX Performance Over the Last Quarter
The three-month decline reflects a more cautious stretch. Optimism around Trulieve's exchange listing pushed MSOX toward its mid-year peak in early June, but that enthusiasm faded as investors recalibrated around the slower-than-expected timeline for broader rescheduling. The DEA's formal hearing process, which ran from late June into mid-July, extended uncertainty and prompted a sharp, leveraged selloff that carried the fund to its late-July low.
The rebound since then has been driven by the same themes that dominate the cannabis complex: regulatory progress, improving operator profitability, and the prospect of tax relief under Section 280E, which currently limits standard business-expense deductions for cannabis companies. Institutional capital flows into MSOS, combined with the 2x leverage embedded in MSOX, magnified both the quarter's drawdown and its subsequent recovery.
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MSOX ETF Outlook: What Investors Should Watch Next
The path forward for MSOX hinges largely on the completion of federal rescheduling. Investors should monitor the DEA administrative law judge's recommendation and any final rule, as a move to Schedule III would ease Section 280E tax burdens and potentially unlock meaningful cash flow for operators. Ongoing uplisting activity by Curaleaf and Green Thumb Industries, further M&A, and third-quarter earnings from the largest MSOs will also shape sentiment.
At the state level, developments such as Virginia's planned adult-use launch in 2027, Texas medical-market expansion, and pending license issuance in Florida represent incremental growth catalysts. Key risks include the daily reset and volatility drag inherent to leveraged ETFs, the fund's concentration in a handful of operators, persistent price compression, and the possibility that regulatory timelines slip again. As with any 2x leveraged product, MSOX is best suited to investors actively managing short-term exposure rather than holding for extended periods.
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
Momentum Indicator for MSOX turns positive, indicating new upward trend
MSOX saw its Momentum Indicator move above the 0 level on September 22, 2026. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 64 similar instances where the indicator turned positive. In 62 of the 64 cases, the stock moved higher in the following days. The odds of a move higher are at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for MSOX just turned positive on September 22, 2026. Looking at past instances where MSOX's MACD turned positive, the stock continued to rise in 26 of 27 cases over the following month. The odds of a continued upward trend are 90%.
MSOX moved above its 50-day moving average on August 19, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for MSOX crossed bullishly above the 50-day moving average on August 24, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 11 of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 90%.
Following a +16.50% 3-day Advance, the price is estimated to grow further. Considering data from situations where MSOX advanced for three days, in 146 of 161 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today. In 83 of 94 cases where MSOX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 88%.
Bearish Trend Analysis
The 10-day RSI Indicator for MSOX moved out of overbought territory on September 24, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 15 similar instances where the indicator moved out of overbought territory. In 15 of the 15 cases, the stock moved lower in the following days. This puts the odds of a move lower at 90%.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 37 of 38 cases where MSOX's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 90%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MSOX declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 90%.
MSOX broke above its upper Bollinger Band on September 22, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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