AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Shares Down 2.6% – Here’s Why

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) shares fell 2.6% during trading on Wednesday . The stock traded as low as $20.12 and last traded at $20.63. 50,314 shares changed hands during trading, an increase of 70% from the average session volume of 29,556 shares. The stock had previously closed at $21.17.

AdvisorShares Psychedelics ETF Stock Performance

The business’s 50-day moving average is $19.24 and its two-hundred day moving average is $18.11.

Hedge Funds Weigh In On AdvisorShares Psychedelics ETF

An institutional investor recently raised its position in AdvisorShares Psychedelics ETF stock. CIBC Private Wealth Group LLC increased its holdings in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) by 18.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,566 shares of the company’s stock after acquiring an additional 4,547 shares during the quarter. CIBC Private Wealth Group LLC owned about 2.51% of AdvisorShares Psychedelics ETF worth $508,000 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.