AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Trading Up 2.2% – Here’s Why

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) shares rose 2.2% on Monday . The company traded as high as $25.88 and last traded at $25.83. 26,729 shares were traded during mid-day trading, a decline of 18% from the average session volume of 32,517 shares. The stock had previously closed at $25.27.

AdvisorShares Psychedelics ETF Trading Up 2.2%

The firm has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $19.94.

Hedge Funds Weigh In On AdvisorShares Psychedelics ETF

Several large investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its stake in shares of AdvisorShares Psychedelics ETF by 18.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 29,566 shares of the company’s stock worth $508,000 after buying an additional 4,547 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in AdvisorShares Psychedelics ETF in the 3rd quarter valued at about $475,000. Finally, Vigilare Wealth Management bought a new position in AdvisorShares Psychedelics ETF in the 2nd quarter valued at about $212,000.

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.