AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Trading Down 0.6% – Should You Sell?

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL)’s stock price dropped 0.6% during mid-day trading on Monday . The stock traded as low as $16.80 and last traded at $17.03. Approximately 18,499 shares traded hands during trading, a decline of 10% from the average daily volume of 20,591 shares. The stock had previously closed at $17.14.

AdvisorShares Psychedelics ETF Stock Down 0.6%

The company has a 50 day simple moving average of $17.25 and a two-hundred day simple moving average of $17.98.

AdvisorShares Psychedelics ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 22nd were given a dividend of $1.6839 per share. This is a positive change 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 39.6%. The ex-dividend date was Monday, December 22nd.

Institutional Trading of AdvisorShares Psychedelics ETF

An institutional investor recently raised its position in AdvisorShares Psychedelics ETF stock. CIBC Private Wealth Group LLC raised its stake in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) by 18.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,566 shares of the company’s stock after purchasing an additional 4,547 shares during the period. CIBC Private Wealth Group LLC owned 2.51% of AdvisorShares Psychedelics ETF worth $508,000 as of its most recent filing with the Securities & 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.