AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Stock Price Down 2.8% – Time to Sell?

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL)’s share price traded down 2.8% during trading on Friday . The company traded as low as $17.20 and last traded at $17.25. 38,820 shares changed hands during trading, a decline of 5% from the average session volume of 40,861 shares. The stock had previously closed at $17.75.

AdvisorShares Psychedelics ETF Stock Performance

The stock’s 50 day simple moving average is $18.18 and its 200-day simple moving average is $17.64.

AdvisorShares Psychedelics ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 22nd were paid a dividend of $1.6839 per share. This represents a $6.74 annualized dividend and a yield of 39.0%. The ex-dividend date of this dividend was Monday, December 22nd. This is an increase from AdvisorShares Psychedelics ETF’s previous quarterly dividend of $0.02.

Hedge Funds Weigh In On AdvisorShares Psychedelics ETF

An institutional investor recently raised its position in AdvisorShares Psychedelics ETF stock. CIBC Private Wealth Group LLC increased its stake in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) by 94.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,019 shares of the company’s stock after acquiring an additional 12,145 shares during the period. CIBC Private Wealth Group LLC owned approximately 2.50% of AdvisorShares Psychedelics ETF worth $475,000 at the end of the most recent reporting period.

AdvisorShares Psychedelics ETF Company Profile

The AdvisorShares Psychedelics ETF (PSIL) is an exchange-traded fund that mostly invests in health care equity. The fund is actively managed to provide exposure to the emerging global psychedelics industry. PSIL was launched on Sep 15, 2021 and is managed by AdvisorShares.