AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Shares Down 2.5% – Here’s Why

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL)’s stock price fell 2.5% during mid-day trading on Friday . The company traded as low as $16.69 and last traded at $16.69. 16,394 shares traded hands during trading, a decline of 36% from the average session volume of 25,595 shares. The stock had previously closed at $17.11.

AdvisorShares Psychedelics ETF Price Performance

The company has a 50 day simple moving average of $17.97 and a 200 day simple moving average of $17.94.

AdvisorShares Psychedelics ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were given a $1.6839 dividend. This is a boost from AdvisorShares Psychedelics ETF’s previous quarterly dividend of $0.02. This represents a $6.74 dividend on an annualized basis and a dividend yield of 40.4%. The ex-dividend date of this dividend was Monday, December 22nd.

Institutional Investors Weigh In On AdvisorShares Psychedelics ETF

An institutional investor recently bought a new position in AdvisorShares Psychedelics ETF stock. CIBC Bancorp USA Inc. acquired a new position in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,019 shares of the company’s stock, valued at approximately $475,000. CIBC Bancorp USA Inc. owned about 2.50% of AdvisorShares Psychedelics ETF 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.