AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Stock Price Down 2.8% – What’s Next?

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

AdvisorShares Psychedelics ETF Price Performance

The business has a 50-day simple moving average of $18.18 and a 200-day simple moving average of $17.64.

AdvisorShares Psychedelics ETF Increases Dividend

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in AdvisorShares Psychedelics ETF stock. CIBC Private Wealth Group LLC grew its position in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) by 94.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,019 shares of the company’s stock after purchasing an additional 12,145 shares during the quarter. 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.