AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Trading Down 0.7% – Time to Sell?

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL)’s share price were down 0.7% on Tuesday . The company traded as low as $16.77 and last traded at $16.77. Approximately 9,526 shares changed hands during trading, a decline of 47% from the average daily volume of 18,085 shares. The stock had previously closed at $16.89.

AdvisorShares Psychedelics ETF Price Performance

The company has a fifty day moving average price of $17.07 and a 200-day moving average price of $18.05.

AdvisorShares Psychedelics ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 22nd were issued a dividend of $1.6839 per share. The ex-dividend date was Monday, December 22nd. This represents a $6.74 annualized dividend and a yield of 40.2%. This is a boost from AdvisorShares Psychedelics ETF’s previous quarterly dividend of $0.02.

Institutional Trading of AdvisorShares Psychedelics ETF

A hedge fund recently bought a new stake in AdvisorShares Psychedelics ETF stock. CIBC Bancorp USA Inc. bought a new stake in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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 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.