The trading post Alpaca Trading (TSX:ATF) is seeking a new CEO to oversee its $1.2 billion (U.S.) investment fund, which has seen its holdings grow by more than a third in the past two years.

The company also announced a number of moves to diversify its operations.

The stock, which closed Wednesday at $3.30 a share, has risen by more to more than $1,600 in the last week.

“We have been exploring all available options to move forward, and we are grateful for the support we have received from our valued investors, who have provided valuable advice and support over the past several years,” Alpacas co-founder, CEO and chairman David Leveaux, said in a statement.

The firm, which opened its first U.S. office in December, said it will hire “highly experienced” individuals to join the company as soon as possible.

Alpacs investments have soared in recent years, which have included a $1 million (U,S.) purchase of the Canadian wool industry and a $2.5 million investment in a Canadian online marketplace.

Alpacas stock surged on the announcement.

The Canadian wool market has surged over the last year, from about $1 a tonne in 2014 to about $2 a ton, according to the Toronto-based market researcher ProMarket.

Alpalac, which also is a Canadian company, has seen the number of orders for its wool products jump from roughly 1,200 a day in 2014, to more recently about 8,000 per day.

“The recent increase in wool sales is a great example of a sustainable investment opportunity in a time of global economic uncertainty and global volatility,” Alpacasi said in its statement.

Alpinist, which is based in Canada, is one of the most successful Australian wool producers, with an annual profit of $1 billion in 2015, according a recent Reuters article.

“Alpacas investment is in the best interest of the company and its shareholders,” Alpinism CEO Brian Wilson said in the statement.

“With the increase in the volume of orders, Alpaca is seeing an opportunity to increase our shareholding and grow our operations.”

Alpacasca’s stock surged more than 8% on the news.