Yes, you can do both.
The end result is a gun which is nose heavy. This results in less muzzle flip and lower perceived recoil, which can translate into more accurate and faster multiple hits on the same target.
Some shooters find a gun set up with both has too much momentum and overswings when engaging multiple targets.
A great feature of this setup is you can easily swap the guide rod for a lighter one if you don't like it.