AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Stock Price Down 0.7% – What’s Next?

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL)’s share price dropped 0.7% on Tuesday . The stock traded as low as $16.77 and last traded at $16.77. Approximately 9,526 shares changed hands during trading, a decline of 47% from the average daily volume of 18,085 shares. The stock had previously closed at $16.89.

AdvisorShares Psychedelics ETF Trading Up 0.9%

The business’s fifty day moving average is $17.04 and its 200-day moving average is $18.03.

AdvisorShares Psychedelics ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 22nd were paid a $1.6839 dividend. The ex-dividend date was Monday, December 22nd. This represents a $6.74 annualized dividend and a yield of 40.9%. This is an increase from AdvisorShares Psychedelics ETF’s previous quarterly dividend of $0.02.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in AdvisorShares Psychedelics ETF stock. CIBC Bancorp USA Inc. purchased a new position in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,019 shares of the company’s stock, valued at approximately $475,000. CIBC Bancorp USA Inc. owned 2.50% of AdvisorShares Psychedelics ETF at the end of the most recent reporting period.

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.