AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Shares Down 2.5% – Should You Sell?

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL)’s share price dropped 2.5% during mid-day trading on Friday . The stock traded as low as $16.69 and last traded at $16.69. Approximately 16,394 shares traded hands during trading, a decline of 36% from the average daily volume of 25,595 shares. The stock had previously closed at $17.11.

AdvisorShares Psychedelics ETF Price Performance

The company’s 50 day moving average is $17.97 and its 200 day moving average is $17.96.

AdvisorShares Psychedelics ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were paid a $1.6839 dividend. This represents a $6.74 dividend on an annualized basis and a dividend yield of 40.4%. The ex-dividend date was Monday, December 22nd. This is a positive change from AdvisorShares Psychedelics ETF’s previous quarterly dividend of $0.02.

Hedge Funds Weigh In On AdvisorShares Psychedelics ETF

An institutional investor recently bought a new position in AdvisorShares Psychedelics ETF stock. CIBC Bancorp USA Inc. bought a new stake in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,019 shares of the company’s stock, valued at approximately $475,000. CIBC Bancorp USA Inc. owned about 2.50% of AdvisorShares Psychedelics ETF at the end of the most recent quarter.

About AdvisorShares Psychedelics ETF

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.