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

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL)’s share price traded up 2.2% during trading on Monday . The stock traded as high as $25.88 and last traded at $25.83. 26,729 shares changed hands 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 Stock Performance

The stock has a 50 day moving average price of $23.08 and a two-hundred day moving average price of $19.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSIL. Vigilare Wealth Management bought a new position in AdvisorShares Psychedelics ETF during the 2nd quarter worth $212,000. CIBC Bancorp USA Inc. acquired a new stake in shares of AdvisorShares Psychedelics ETF during the third quarter worth $475,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of AdvisorShares Psychedelics ETF by 94.3% in the third quarter. CIBC Private Wealth Group LLC now owns 25,019 shares of the company’s stock valued at $475,000 after acquiring an additional 12,145 shares during the 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.