AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Shares Down 2.5% – Should You Sell?

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

AdvisorShares Psychedelics ETF Trading Down 2.5%

The business’s fifty day simple moving average is $17.97 and its 200-day simple moving average is $17.94.

AdvisorShares Psychedelics ETF Increases Dividend

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

Institutional Inflows and Outflows

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 the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 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 SEC filing.

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.