AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Shares Up 4.8% – Still a Buy?

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) rose 4.8% during trading on Thursday . The stock traded as high as $20.19 and last traded at $20.19. Approximately 23,238 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 27,238 shares. The stock had previously closed at $19.27.

AdvisorShares Psychedelics ETF Stock Up 4.8%

The firm’s fifty day moving average is $17.65 and its 200 day moving average is $17.95.

Institutional Investors Weigh In On AdvisorShares Psychedelics ETF

A hedge fund recently bought a new stake in AdvisorShares Psychedelics ETF stock. CIBC Bancorp USA Inc. purchased a new position in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) in the 3rd quarter, according to the company in its most recent Form 13F filing 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 approximately 2.50% of AdvisorShares Psychedelics ETF as of its most recent filing with the Securities and Exchange Commission.

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.